The key dates to remember for lodgment and payment

As a business owner, you are required to pay taxes and other obligations in a timely manner. However, there are other areas of your business that you need to focus on and these deters you from keeping track of these important dates. This is where your bookkeeper will come into play. Your bookkeeper should take note of these dates so paying penalties and late fees will be prevented. ATO’s official website has released the key dates for lodgment and payment for 2016. Here are the dates you and your bookkeeper should remember:

July 2016

21 July

Lodge and pay June 2016 monthly activity statement.
Lodge and pay 2015–16 quarter 4 PAYG instalment activity statement for head companies of consolidated groups.

28 July

Lodge and pay quarterly activity statement for quarter 4, 2015–16 – paper.
Pay quarterly instalment notice (form R, S or T) for quarter 4, 2015–16. Lodgment is only required if you vary the instalment amount.
Employers must make super guarantee contributions for quarter 4, 2015–16 to the funds by this date.
Employers who do not pay minimum super contributions for quarter 4 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) with us by 28 August 2016.

Note: The super guarantee charge is not tax deductible

31 July

Lodge TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries in quarter 4, 2015–16.
Lodge Venture capital deficit tax return for June balancers.
Lodge Franking account return for 30 June balancers when there is an amount payable.

August 2016

14 August

Lodge the PAYG withholding payment summary annual report for:
large withholders whose annual withholding is greater than $1 million
payers who have no tax agent or BAS agent involved in preparing the report.

21 August

Lodge and pay July 2016 monthly activity statement.

25 August

Lodge and pay quarterly activity statement for quarter 4, 2015–16 – tax agents and BAS agents – if you are lodging using:
electronic lodgment service (ELS)
electronic commerce interface (ECI)
Tax Agent Portal
BAS Agent Portal
practitioner lodgment service (PLS).

28 August

Lodge the Superannuation guarantee charge statement – quarterly and pay the super guarantee charge for quarter 4, 2015–16 if the employer did not pay enough contributions on time.

Employers who lodge a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They will still have to pay the remaining super guarantee charge to us.

Note: The super guarantee charge is not tax deductible

For help working out the super guarantee charge and preparing the Superannuation guarantee charge statement – quarterly, use our Super guarantee charge statement and calculator tool.

Lodge Taxable payments annual report – building and construction industry.

September 2016

21 September

Lodge and pay August 2016 monthly activity statement.

30 September

Lodge the PAYG withholding payment summary annual report for payers whose registered agent (BAS agent or tax agent) helped prepare the report.
If a payer has only closely held payees and their tax agent helps prepare their report, they may be eligible for a concession to lodge this report by the due date of their tax return.
Lodge Annual TFN withholding report 2016 when a trustee of a closely held trust has been required to withhold amounts from payments to beneficiaries.

October 2016

21 October

Pay annual PAYG instalment notice (Form N). Lodgment is only required if you vary the instalment amount or use the rate method to calculate the instalment.
Lodge and pay quarterly PAYG instalment activity statement for quarter 1, 2016–17 for head companies of consolidated groups.
Lodge and pay September 2016 monthly activity statement.

28 October

Lodge and pay quarterly activity statement for quarter 1, 2016–17 – paper lodgments.
Pay quarterly instalment notice (form R, S, or T) for quarter 1, 2016–17. Lodgment is only required if you vary the instalment amount.
Employers must make super guarantee contributions for quarter 1, 2016–17 to the funds by this date.
Employers who do not pay minimum super contributions for quarter 1 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) with us by 28 November 2016.

Note: The super guarantee charge is not tax deductible

Lodge and pay annual activity statement for TFN withholding for closely held trusts where a trustee of a closely held trust withheld amounts from payments to beneficiaries during the 2015–16 income year.

31 October

Final date to appoint a tax agent to the income tax role for any new client. If you advise us of your appointment after this date, the client’s 2016 tax return may not be covered by your lodgment program.

Note: The lodgment program is a concession to registered agents. We can ask for documents to be lodged earlier than the concessional due dates.

Lodge tax returns for all entities if one or more prior year returns were outstanding as at 30 June 2016.

Note: 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 2016, the system will reset the 2016 tax return due date as in the normal program.

SMSFs in this category must lodge their complete Self-managed superannuation fund annual return by this date.

Lodge and pay Self-managed superannuation fund annual return (NAT 71226) for new registrant (taxable and non-taxable) SMSF where we have advised the SMSF the first year return will have a 31 October 2016 due date.

Lodge tax return for all entities prosecuted for non-lodgment of prior year returns and advised of a lodgment due date of 31 October 2016:

Some prosecuted clients may have been given a different lodgment due date – 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 2016.

SMSFs in this category must lodge their complete Self managed superannuation fund annual return (NAT 71226) by this date.

Lodge Annual investment income report (AIIR).

Lodge Departing Australia superannuation payments (DASP) annual report.

Lodge Franking account tax return when both of the following apply:

The return is a disclosure only (no amount payable).
The taxpayer is a 30 June balancer.

Lodge PAYG withholding annual report no ABN withholding (NAT 3448).

Lodge PAYG withholding from interest, dividend and royalty payments paid to non-residents (NAT 7187) annual report. 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 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 lost members report for the period 1 January – 30 June 2016.

Lodge TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries in quarter 1, 2016–17.

November 2016

21 November

Lodge and pay October 2016 monthly activity statement.

25 November

Lodge and pay quarterly activity statement for quarter 1, 2016–17 if you are lodging using:
electronic lodgment service (ELS)
electronic commerce interface (ECI)
Tax Agent Portal
BAS Agent Portal
practitioner lodgment service (PLS).

28 November

Lodge Superannuation guarantee charge statement – quarterly and pay the super guarantee charge for quarter 1, 2016–17, if the employer did not pay enough contributions on time.

Employers who lodge a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They will still have to pay the remaining super guarantee charge to us.

Note: The super guarantee charge is not tax deductible

For help working out the super guarantee charge and preparing the Superannuation guarantee charge statement – quarterly, use our Super guarantee charge statement and calculator tool.

December 2016

1 December

Pay income tax for taxable large/medium taxpayers, companies and super funds. Lodgment of return is due 15 January 2017.
Pay income tax for the taxable head company of a consolidated group with a member deemed to be a large/medium taxpayer in the latest year lodged. Lodgment of return is due 15 January 2017.
Pay income tax for companies and super funds when lodgment of the tax return was due 31 October 2016.

21 December

Lodge and pay November 2016 monthly activity statement.

Source: https://www.ato.gov.au