While we see a lot of due dates for January 2019, February and March don’t have as many. Below are the most important dates that you should be aware of for the next two months as we close out summer and head into autumn.
February 2019 Lodgment Due Dates
Below are the two due dates that need to be noted for February 2019.
February 21st, 2019:
This is the best time to lodge and pay for your December 2018 monthly business activity statements for business clients who are earning up to $10 million Australian in turnovers. This due date is for businesses that lodge their Goods and Services Taxes monthly and are submitted electronically online.
This due date is also important for businesses that lodge monthly activity statements as your January 2019 business activity statement is also due today.
February 28th, 2019:
Quarterly Business Activity Statements are due!! While usually when you lodge your activity statements with an agent, you can receive an extension on your lodgment, unfortunately Dec 18 quarter is a special case. With the festive season happening in December and all the public holidays and corporate closures through December and January, the due that for everyone will be February 28th with no extensions granted.
If you are a non-taxable large-medium firm, you will need to lodge before this date. For those that have tax payables for their companies and superfunds, they will also be due today. The only exception will be tax payables for trusts which will be due as per your notice of assessment (usually mailed out to you or your tax agency).
Any new registrants, whether taxable or non-taxable large-medium entities also have their tax returns due today (individuals excepted). Payment for these companies or superfunds will also be due today. Once again, any tax payables for trusts will be due as per your notice of assessment from the Australian Taxation Office.
For any member of a consolidated group who exits the consolidated group for any period during the income year will need to lodge a tax return today. This is particularly for non-taxable head of companies for large-medium sized firms of a consolidated group.
If you are a new registrant for self managed superfunds, you will need to lodge and pay a Self-managed Superannuation fund annual return today unless you have been advised otherwise by the Australian Taxation Office.
Firms that have registered to lodge Annual Goods and Services Tax returns voluntarily, will require to lodge and pay today. If you have compulsory annual Goods and Services Tax Returns, then you must lodge your Goods and Services Tax by the due date of your tax return.
If you did not pay enough super contributions to your employees on time, you will also need to lodge and pay for Dec 18 quarter for Superannuation guarantee charge statements. If you are going to lodge a Superannuation guarantee charge statement – quarterly, you have the option to choose to offset contributions that were paid late to a fund against the super guarantee charge for the quarter. However, you will still be required to pay the remaining super guarantee charge.
March 2019 Lodgment Due Dates
Below are two due dates that need to be noted for March 2019.
March 21st, 2019:
Lodgments and payments due for February 2019 monthly business activity statements.
Tax returns for companies and super funds with a total income exceeding $2 million Australian will need to be lodged today (unless your return was due at an earlier date). Any tax payables will also be due.
Tax return lodgments for head of company of a consolidated group, with members who had excess of $2 million Australian dollars in total income will be due, unless the return date was due earlier. Payment will also be due by this date.
Individuals and trusts whose latest return resulted in a tax liability of over $20,000 Australian Dollars will be required to lodge a tax return (large-medium trusts excluded). Payment due dates will be advised as per the notice of assessment issued by the Australian Taxation Office.
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