Balancing the books is a crucial part of running a successful business and an important part of this is ensuring you meet ATO deadlines for compliance lodgements.
The Australian Taxation Office (ATO) provides ‘Key Dates’ for all of the compliance lodgements. However, these deadlines can easily be overlooked by busy business owners which can create undue worry and stress, particularly as interest for late payments or fines for late lodgements can be imposed by the ATO.
Here at Walshs we are committed to ensuring you’re prepared and up to date with key financial dates and so we have prepared an important key dates document for the 2022-2023 year, with dates included for BAS, IAS and superannuation obligations.
There are two dates listed as you can either lodge directly with the ATO as a business owner or you can lodge via a tax or BAS agent. If you lodge with an agent, then there is an additional four week deadline. You can download our IMPORTANT KEY DATES DOCUMENT here.
Please note it is not intended to be an exhaustive list and if you aren’t sure if a date applies to you, please contact us.
Other key dates to consider include:
- Annual Workcover premiums
- End of Year STP Finalisations (if you engage staff)
Medium entities (the above plus):
- Monthly IAS (reporting employees PAYG Withholding)
For Large entities (all of the above plus):
- Payroll Tax – generally monthly
It is important to keep your reporting up to date and it is recommended that you use accounting software to record all of your data.
Walshs bookkeeping team has many years of experience, we specialise in all areas and business requirements, for private business clients and also medical and private practice clients. We provide businesses with an opportunity to outsource their bookkeeping and payroll needs to ensure they are managed efficiently, effectively and in full compliance with government regulations.
If you would like to discuss a business set up, training, or have a general enquiry please contact firstname.lastname@example.org or call 07 3221 5677.
By: Cheryl Jones, Bookkeeping Manager