With the September quarter fast approaching we wanted to make you aware of some important dates. If you are running a business, lodge BAS’s and employ staff, mark these accounting dates in your calendar.
September BAS returns
- If lodging yourself, these need to be lodged and paid by 25th October 2019.
- If lodging through us you get a 4-week extension, resulting in a due date for lodgement and payment of 25th November 2019.
Superannuation guarantee payments
- The September quarter SGC amounts need to be paid and physically received into superannuation accounts by 21st October 2019. Make sure you submit these payments at least a week before the deadline to ensure they clear into super funds by the due dates.
Single touch payroll
- By now you should be set up for Single Touch Payroll and filing your pay runs with the ATO as you process them in your software. Check to make sure all of your pay runs have been filed for the September quarter.
- There are some concessions for micro employers and closely held payees, which means you can lodge quarterly via us if required. Please contact us if you think this applies to you and you need assistance to lodge. More information on Single Touch Payroll can be found here
other information you should be aware of
Superannuation guarantee amnesty is back!
- A superannuation guarantee amnesty was first introduced to parliament on 24 May 2018, however, the bill failed to pass the Senate and lapsed when the federal election was called in April 2019.
- On 18 September 2019, the Bill was re-introduced, with an amnesty period starting on 24 May 2018 and ending six months after the legislation receives Royal Assent.
- In the latest version of the amnesty, if a taxpayer doesn’t take advantage of the amnesty in relation to historical shortfalls, they will be subject to a penalty of up to 200%. The Commissioner will be unable to remit that penalty below 100% for historical quarters.
- Please note that until the proposed amnesty is enacted by Parliament, the ATO will continue to apply the existing law to the SGC statements lodged.
- You can get more information on the amnesty and keep up to date with the progress of this law here: https://www.ato.gov.au/Business/Business-bulletins-newsroom/Employer-information/Superannuation-guarantee-amnesty/
Payroll tax rates
- If you employ a large volume of staff and are liable for Payroll tax, please note that the tax rate and thresholds have changed across the Australian states and territories.
More information on these changes can be found here: https://businessdepot.com.au/blog/changes-to-the-payroll-tax-rate-thresholds/
If you have registered for MyGov and connected your MyGov account to the ATO, your ATO correspondence will be sent to your MyGov account, and we do not get a copy. Please make sure you check any correspondence received to ensure you are aware of any obligations. Please note that your Notice of Assessment with confirmation of your tax payable/refundable will be sent directly to your MyGov inbox if registered.