As the financial year progresses, it's crucial for both individuals and businesses to stay on top of their tax obligations. To assist you in keeping track of these vital dates and ensure you meet your tax lodgement requirements, we have compiled a comprehensive list of key October deadlines (provided by the Australian Tax Office (ATO)).
And remember, even though the first deadline is just weeks away, it’s not too late to get tailored, strategic tax advice and lodgement assistance with the Attune team. Now, let’s dive in...
October 21, 2023
1. PAYG Instalment Notice (Form N)
- Pay your annual PAYG instalment notice.
- Lodge only if you need to vary the instalment amount or use the rate method to calculate the instalment.
2. PAYG Instalment Activity Statement
- Lodge and pay quarter 1, 2023–24 PAYG instalment activity statement if you are the head company of consolidated groups.
3. Monthly Business Activity Statement
- Lodge and pay your September 2023 monthly business activity statement.
October 28, 2023
1. Activity Statement
- Lodge and pay quarter 1, 2023–24 activity statement if you choose to receive and lodge by paper and are not an active Single Touch Payroll (STP) reporter.
- Pay your quarter 1, 2023–24 instalment notice (form R, S, or T).
- Lodge the notice only if you need to vary the instalment amount.
2. Super Guarantee Contributions
- Ensure you make super guarantee contributions for quarter 1, 2023–24 to funds by this date.
Note: Employers failing to pay the minimum super contributions for quarter 1 by this date must pay the super guarantee charge and lodge a Superannuation Guarantee Charge statement by 28 November 2023.
3. Annual Activity Statement for TFN Withholding
- Lodge and pay the annual activity statement for TFN withholding for closely held trusts where a trustee withheld amounts from payments to beneficiaries during the 2022–23 income year.
October 31, 2023
1. Client List Update
- This is the final date to add new clients to your client list to ensure their 2023 tax return is covered by the lodgement program.
Note: The lodgement program is a concession provided to registered agents, and the ATO may request documents to be lodged earlier than the lodgement program due dates.
2. Tax Returns for All Entities
- Lodge tax returns for all entities if one or more prior year returns were outstanding as at 30 June 2023.
Notes:
- This means all prior year returns must be lodged, not just the immediate prior year.
- If all outstanding prior year returns have been lodged by 31 October 2023, the lodgement program due dates will apply to the 2023 tax return.
- Self-managed superannuation funds (SMSFs) in this category must lodge their complete Self-managed superannuation fund annual return by this date.
3. Tax Returns for Prosecuted Entities
- Lodge a tax return for all entities prosecuted for non-lodgement of prior year returns and advised of a lodgement due date of 31 October 2023.
Notes:
- Some prosecuted clients may have a different lodgement due date – please refer to the letter you received for the applicable due date.
- Payment (if required) for individuals and trusts in this category is due as advised in their notice of assessment.
- Payment (if required) for companies and super funds in this category is due on 1 December 2023.
- SMSFs in this category must lodge their complete Self-managed superannuation fund annual return by this date.
4. Reports and Returns
- Lodge your Annual Investment Income Report (AIIR).
- Lodge your Departing Australia Superannuation Payments (DASP) annual report.
- Lodge your Franking account tax return when both the: Return is a disclosure only (no amount payable); Taxpayer is a 30 June balancer.
- Lodge your PAYG withholding annual report no ABN withholding (NAT 3448).
- Lodge your PAYG withholding from interest, dividend, and royalty payments paid to non-residents – annual report (NAT 7187). This report advises amounts withheld from payments to foreign residents for: Interest and unfranked dividend payments that are not reported on an Annual Investment Income Report (AIIR).
Royalty payments.
- Lodge your PAYG withholding annual report – payments to foreign residents (NAT 12413). This report advises amounts withheld from payments to foreign residents for: Entertainment and sports activities; Construction and related activities; Arranging casino gaming junket activities.
- Lodge your lost members report for the period 1 January – 30 June 2023.
- Lodge your TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries in quarter 1, 2023–24.
By adhering to these important tax lodgement deadlines, you can ensure compliance with the ATO and avoid potential penalties. If you have any questions or require assistance with your tax lodgement, don't hesitate to reach out to the Attune Advisory team via 1300 866 113 or by sending us an email. We're here to guide you through the processes and offer tailored, strategic advice to help you build your financial future.
