21 October

Pay annual PAYG instalment notice (Form N). Lodge only if you vary the instalment amount or use the rate method to calculate the instalment.

Lodge and pay quarter 1, 2024–25 PAYG instalment activity statement for head companies of consolidated groups.

Lodge and pay September 2024 monthly business activity statement.

28 October

Lodge and pay quarter 1, 2024–25 activity statement if electing to receive and lodge by paper and not an active STP reporter. Pay quarter 1, 2024–25 instalment notice (form R, S, or T). Lodge the notice only if you vary the instalment amount.

Make super guarantee contributions for quarter 1, 2024–25 to funds by this date.

Note: 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 by 28 November 2024.

Lodge and pay annual activity statement for TFN withholding for closely held trusts where a trustee withheld amounts from payments to beneficiaries during the 2023–24 income year.

31 October

Lodge tax returns for all entities if one or more prior year returns were outstanding as at 30 June 2024.

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 2024, the lodgement program due dates will apply to the 2024 tax return.
• 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 for (taxable and non-taxable) new registrant SMSF if we have advised the SMSF that the first-year return has a 31 October 2024 due date.

Lodge tax return for all entities prosecuted for non-lodgement of prior year returns and advised of a lodgement due date of 31 October 2024:

• Some prosecuted clients may have a different lodgement 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 2024.
• SMSFs in this category must lodge their complete Self-managed superannuation fund annual return by this date.

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

Lodge not-for-profit (NFP) self-review return for non-charitable NFP entities with an active Australian business number (ABN) that self-assess as income tax exempt.

Here is a reminder of what changed on 1 July 2022

Business

·       Superannuation guarantee increased to 10.5%

·       $450 super guarantee threshold removed for employees aged 18 and over

·       Small business GST and PAYG tax instalments lowered (the total tax liability remains the same, just the
amount the business needs to pay through the year is lowered)

·       ATO guidance on how profits of professional firms are structured comes into effect introducing new
risk criteria

·       New guidance on unpaid trust distributions to corporate beneficiaries comes into effect that may treat
some unpaid distributions as loans and trigger tax consequences

Individuals

·       Superannuation guarantee increased to 10.5%

·       Work-test repealed for those under 75 to make or receive non-concessional or salary sacrifice super
contributions (the work test still applies to personal deductible contributions)

·       Age for downsizer super contributions reduced to 60 years and older

·       Value of voluntary super contributions that can be withdrawn under the First Home Saver Scheme
increased to a total of $50,000

·       New ATO guidelines on trust distributions come into effect primarily impacting distributions to adult
children

·       Home loan guarantee scheme extended to 35,000 per year for first home buyers and 5,000 per year for
single parents

·       Australia’s minimum wage increased