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 to in place to address a few key due dates that will come around quickly once the doors re-open.
| Due Date | Item |
| 14 January 2020 | December 2019 monthly Payroll Tax Returns or July – December 2019 Payroll Tax Returns are due for lodgement and payment |
| 15 January 2020 | Taxable large/medium Company Tax Returns (June year-end) are due for lodgement |
| 21 January 2020 | Quarter 2 (December 2019) PAYG Instalment Activity Statements (IAS) |
| 21 January 2020 | December monthly Business Activity Statements (BAS) due for lodgement and payment |
| 28 January 2020 | Quarter 2 (December 2019) Superannuation Guarantee Contributions must be paid to superannuation funds |
| 31 January 2020 | Lodge Tax File Number (TFN) report for closely held trusts for any beneficiary who quoted their TFN in quarter 2 (December 2019) |
| 7 February 2020 | January monthly Payroll Tax Returns are due for lodgement and payment |
| 21 February 2020 | January 2020 monthly BAS / IAS due for lodgement and payment |
| 28 February 2020 | December 2019 Quarterly BAS due for lodgement and payment |
| 28 February 2020 | Non-taxable large/medium Company Tax Returns (June year-end) are due for lodgement, including newly registered companies within the 2019 financial year. |
Extensions for those affected by bushfires: If you were impacted by the recent bushfires you may have an extension to lodge and pay certain BAS’, IAS’s and Tax Returns. Please speak to your usual Mazars advisor to find out if you are eligible for an extension. More information can be found on the Australian Taxation Office’s website here .
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 2020 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 2020. If you would like some assistance with any of the above, please contact your usual Mazars advisor or alternatively:
| Brisbane – Matthew Beasley | Melbourne – Christopher Cicutto | Sydney – Dean Newman |
| +61 7 3218 3900 | +61 3 9252 0800 | +61 2 9922 1166 |
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.
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