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Important Dates for Businesses in 2021

Make sure you add these to your calendar!
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Pins targeting dates in a yearly calendar.Most business owners would agree that it can be quite stressful when trying to remember key dates throughout the year. For this reason, we have prepared a list for you to refer back to for 2021, including bas due dates, bas lodgement dates and PAYG instalments just to name a few:

March 2021

1 March: December quarter SGC statement due, December quarterly BAS Due, December quarter PAYG instalment due

22 March: February monthly BAS due

28 March: JobKeeper Payment extension 2 ends

April 2021

1 April: SME Loan Guarantee Scheme Extension – approved prior to 31 December 2021

21 April: March monthly BAS due

28 April:  March quarter SGC statement due, March quarterly BAS due, March quarter PAYG instalment due

May 2021

17 May: Income tax lodgement due

21 May: April monthly BAS due

28 May: March quarter SGC statement due

June 2021

21 June: May monthly BAS due

25 June: Fringe Benefits Tax (FBT) return lodgement and payment

30 June: End of financial year

July 2021

01 July: New financial year begins

14 July:  Issue PAYG withholding payment summaries or income statements

21 July: June monthly BAS due

28 July: June quarter super guarantee charge statement due, June quarterly BAS due, June quarter PAYG instalment due

August 2021:

02 August: August fuel tax credit rates change

16 August: PAYG withholding annual report due

23 August: July monthly BAS due

30 August: Taxable payments annual report due, June quarter SGC statement due

September 2021:

21 September: August monthly BAS due

October 2021:

21 October: September monthly BAS due

28 October: September quarter SGC due

28 October: September quarterly BAS due, September quarter PAYG instalment due

31 October: Deadline to lodge tax return for the 2020 – 2021 Financial year

November 2021:

22 November: October monthly BAS due

29 November: September quarter SGC statement due

Please Note: This is only a concise list, as such there may be other key dates that relate to your business. For more information please refer to the below websites or speak to your accountant for more.

Australian Taxation Office

Australian Government Business

Western Australian Government

Important dates for small businesses checklist download

    2020 – 21 Business Incentive Summary – Plant & Equipment

    Small Business Entities­

    Business incentives for small businesses outlined in a table.

    2020 – 21 Business Incentive Summary – Plant & Equipment

    Medium Business Entities­

    Business incentive summary for medium business entities.

    2020 – 21 Business Incentive Summary – Plant & Equipment

    Large Business Entities

    Business incentive summary for large business entities.

    Tax Terms Explained


    What is a BAS?

    BAS, or business activity statement, is required if you are a GST-registered business. It is a way of letting the government know how much was paid on purchases and for the ATO to work out your GST refund or bill.

    What are BAS Due Dates?

    BAS is completed one to twelve times a year depending on the size of your business. If your business has a $20 million annual turnover, BAS is due between the 21st – 23rd day of the month following the end of the taxable period. For example, June monthly BAS is due on 21 July. If your business has less than a $20 million turnover, it will have to be completed quarterly. And if you turnover less than $75,000 (or $150,000 for non-profits) you lodge a BAS annually.

    Super Guarantee Charge (SGC)

    What is an SGC?

    Employers are required to pay their employees a superannuation guarantee which is outlined in the employment conditions. A Super Guarantee Charge (SGC) is what an employer may have to pay to the ATO if they fail to pay the super guarantee to the correct super fund by the due date.

    When is SGC Due?

    The employer must lodge the SGC statement and pay the charge to the ATO by the 28th day of the second month after the quarter. For example, for quarter 1 (July – September) the SGC statement and SGC itself is due on 28 November.

    PAYG Instalment and Withholding

    What is a PAYG Instalment?

    PAYG, or pay as you go, is where you pay your income tax in instalments, helping you to avoid a large tax bill after you lodge your business’ income tax return.

    What is PAYG withholding?

    PAYG withholding is the amount of tax you withhold from their pay which then gets sent to the ATO. Employees can then claim against the amount withheld at the end of the financial year.

    Business Incentive Summary – Plant & Equipment

    Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use.

    Instant asset write-off can be used for:

    • multiple assets, if the cost of each individual asset is less than the relevant threshold
    • new and second-hand assets.

    If you are a small business, you will need to apply the simplified depreciation rules in order to claim the instant asset write-off. It cannot be used for assets that are excluded from those rules.

    The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business’s eligibility and apply the correct threshold amount depending on when the asset was purchased, first used or installed ready for use.

    Please note the information provided here is general in nature and does not constitute financial, tax or other professional advice. You should consider whether the information is appropriate for your needs and seek professional advice prior to making any decisions.

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