Important Dates to remember in the new year

It’s that time of year when many businesses close or scale down to minimum staff over the festive season giving business owners and staff a well-deserved break.

If your business is closing over this period, before you ‘switch off’ and unwind, it’s worth looking beyond the festive season to check that you have plans in place to address a few key due dates that will come around quickly once the doors re-open:

Due Date	Item
14 January 2022	December 2021 monthly Payroll Tax Returns or July – December 2021 Payroll Tax Returns are due for lodgement and payment
15 January 2022	Taxable large/medium Company Tax Returns (June year-end) are due for lodgement
21 January 2022	Quarter 2 (December 2021) PAYG Instalment Activity Statements (IAS)
21 January 2022	December monthly Business Activity Statements (BAS) due for lodgement and payment (except for business clients with up to $10M turnover who report GST monthly and lodge electronically
28 January 2022	Quarter 2 (December 2021) Superannuation Guarantee Contributions must be paid to superannuation funds
31 January 2022	Lodge Tax File Number (TFN) report for closely held trusts for any beneficiary who quoted their TFN in quarter 2 (December 2021)
7 February 2022	January 2022 monthly Payroll Tax Returns are due for lodgement and payment
21 February 2022	January 2022 monthly BAS / IAS due for lodgement and payment & December 2021 monthly BAS lodgement and payment for business clients with up to $10M turnover who report GST monthly and lodge electronically
28 February 2022	December 2022 Quarterly BAS due for lodgement and payment (all lodgement methods, including tax agent deferred lodgement)
28 February 2022	Non-taxable large/medium Company Tax Returns (June year-end) are due for lodgement, including newly registered companies within the 2021 financial year.
28 February 2022	Pay quarter 2 instalment notice. If the instalment is to be varied, lodgement is required by this date.

From a cashflow perspective it’s also worth noting that the ATO’s small business superannuation clearing house is closing down early for Christmas from 15 December 2021. It has advised any contributions received after 15 December will not be processed until 4 January. Therefore, any small business using this service should consider delaying processing December superannuation contributions until January to leave the cashflow in their bank account rather than the ATO’s.

Your new year resolutions should not only be a personal matter but a business one too. While your new year activities and results are top of mind, make a record of what worked well, what didn’t and what could be improved, including new ideas worth exploring in the new year. Having this record to refer to will give you some momentum when you begin your 2022 planning process.

If you end up having some spare time on your hands in the final days of the year it’s a great idea to draft some new business goals, update your business plan and re-forecast your budget to set your business up for a successful 2022. If you would like some assistance with any of the above, please contact your usual Mazars advisor or alternatively:

Brisbane – Matthew Beasley	Melbourne – Liliana Harris	Sydney – Jeremy Mortlock
+61 7 3218 3900	+61 3 9252 0800	+61 2 9922 1166

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Published: 17/12/2021

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Important Dates to remember in the new year

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