The Institute of Certified Bookkeepers recently sent us through this helpful end-of-financial-year timeline, and we thought it was a great little timeline to help you prepare for a stress-free (well, mostly) end-of-year. As they so aptly point out in the introduction to this timeline by quoting Benjamin Franklin, “By failing to prepare, you are preparing to fail.” Strong words perhaps (after all, we are here to help you!), but food for thought nonetheless.
Here’s their helpful timeline:
21 April: Lodge and Pay Monthly IAS/BAS – March
28 April: Lodge and Pay Quarterly BAS – January to March Check employees have signed authority to email payment summaries
Prepare your end-of-year plan
21 May: Lodge and Pay Monthly IAS/BAS – April
28 May: Fringe Benefits Tax annual return – due date for payment
21 June: Lodge and Pay Monthly IAS/BAS – May
25 June: 2017 Fringe Benefits Tax annual return – lodgement due date for tax agents (if lodging electronically). Payment (if required) is due 28 May.
Prior to 30 June: Super Guarantee Contributions must be paid (to fund) by this date to qualify for a tax deduction in the 2016–17 financial year.
30 June: Have stocktake completed
14 July: Prepare and distribute Employee Payment Summaries
21 July: Lodge and Pay Monthly IAS/BAS – June
21 July: Payroll Tax annual reconciliation
28 July: Lodge and pay Quarterly Business Activity Statement, unless extension is available
28 July: Pay June Quarterly Superannuation Guarantee (unless already paid before June 30)
14 August: Lodge Employee Payment Summaries
21 August: Lodge and pay monthly IAS/BAS – July
25 August: Lodge Taxable Payments Annual Reports
Meet with trusted advisor to finalise the ‘end-of-year’ file
Send final ‘end-of-year’ file to accountant
21 September: Lodge and pay monthly IAS/BAS – August