Introduction

Staying on top of tax deadlines is essential for individuals and businesses in Australia. Missing these important dates can lead to financial penalties, interest charges, and potential disruptions to future tax filings. Knowing the annual deadlines helps ensure compliance, minimize stress, and maintain eligibility for benefits and extensions, setting a smooth foundation for the financial year.

Key Tax Deadlines for Individuals

• Individual tax returns: Due by October 31.
• If using a registered tax agent: Extended deadline to May 15 of the following year (must be registered with agent by October 31).
   

Key Tax Deadlines for Businesses

• Business Activity Statements (BAS): Businesses may submit BAS monthly, quarterly, or annually, depending on size and income. Lodgment is due 28 days after the end of each period (e.g., April 28, July 28).
• PAYG (Pay-As-You-Go) Instalments: Generally due quarterly, although larger businesses may need to lodge monthly.
• Annual Tax Return for Businesses: Generally due on October 31, though large companies may have different requirements.
   

Superannuation Deadlines

• Superannuation Guarantee (SG) Contributions: Payments are due quarterly by the 28th day of the month following each quarter. Late SG payments are subject to the Superannuation Guarantee Charge (SGC), which includes additional penalties and interest.
   

Tax Deadlines for Specific Tax Types

• Fringe Benefits Tax (FBT): FBT returns are due by May 21 for self-lodgers and by June 25 if using a tax agent.
• GST (Goods and Services Tax): Depending on turnover, businesses submit GST monthly or quarterly, and their lodgment aligns with BAS submission dates.
   

Extensions and Special Circumstances

• Registered Tax Agent Extensions: Working with a tax agent can grant extended lodgment periods.
• COVID-19 and Natural Disaster Extensions: The government may provide deadline extensions during emergencies, such as COVID-19 or natural disasters.
   

Due Dates Summarized

Below is a comprehensive schedule of key lodgment and payment dates for the 2024-25 financial year, tailored for clients of registered agents.

Stay on Track with Deadlines

To stay on top of tax deadlines, Lodge Pro offers automated reminders for key dates. Setting up digital calendar alerts can also be a simple yet effective way to keep your deadlines visible and manageable. Additionally, working with a registered tax agent can provide valuable support and peace of mind, as agents help ensure full compliance with tax requirements and prevent missed deadlines.

Consequences of Missing Tax Deadlines

Missing tax deadlines can lead to late fees, with compounding interest applied to any outstanding balances, potentially increasing the overall tax burden. Additionally, delayed filings may complicate future tax processes, potentially limiting eligibility for government benefits or filing extensions.

Being proactive with tax deadlines is key to a hassle-free experience with the Australian tax system. Lodge Pro's automated reminders and comprehensive tax features ensure that you meet all required dates on time, reducing stress and preventing unexpected fees. With professional reviews and real-time assistance, Lodge Pro makes managing your finances and tax filing straightforward, giving you confidence and peace of mind throughout the process.