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 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
4 January 2021 – 28 January 2021	December 2020 turnover declaration for the ATO Jobkeeper payment due (this is a two week extension past the usual due date of the 14th day of each month).
14 January 2021	December 2020 monthly Payroll Tax Returns or July – December 2020 Payroll Tax Returns are due for lodgement and payment
15 January 2021	Taxable large/medium Company Tax Returns (June year-end) are due for lodgement
21 January 2021	Quarter 2 (December 2020) PAYG Instalment Activity Statements (IAS)
21 January 2021	December monthly Business Activity Statements (BAS) due for lodgement and payment
28 January 2021	Quarter 2 (December 2020) Superannuation Guarantee Contributions must be paid to superannuation funds
31 January 2021	Lodge Tax File Number (TFN) report for closely held trusts for any beneficiary who quoted their TFN in quarter 2 (December 2020)
7 February 2021	January monthly Payroll Tax Returns are due for lodgement and payment
21 February 2021	January 2021 monthly BAS / IAS due for lodgement and payment
28 February 2021	December 2020 Quarterly BAS due for lodgement and payment
28 February 2021	Non-taxable large/medium Company Tax Returns (June year-end) are due for lodgement, including newly registered companies within the 2020 financial year.

On a more positive note, 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 2021 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 2021. If you would like some assistance with any of the above, please contact your usual Mazars advisor, alternatively contact us via phone or the form below.

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

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Published: 15/12/2020

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Important Dates to remember in the new year

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