Maclean Partners, Chartered Accountants, Financial Planning, Townsville, Queensland

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MACLEAN NEWS & UPDATES

2022 - Tax Checklist
To assist in completing your tax return, we have a checklist that will help you with what you need to provide us. Find out more

- Virtual Tour
Take a tour and explore our office Find out more

Key Dates - July 2022

Date	Category	Description

14 Jul 2022	PAYG withholding	Due date for payers to issue the following types of PAYG withholding payment summaries to payees (includes employees and recipients of certain other payments) PAYG payment summary - individual non-business for employees, company directors and office holders who received salary, wages, pension payments, compensation, allowances or reportable fringe benefits. PAYG payment summary - foreign employment for employees, company directors and office holders who received income from foreign employment. PAYG payment summary - business and personal services income for non-employees who have made a voluntary agreement to withhold tax, or were employed under a labour hire arrangement, or received certain specified payments, or earned personal services income through a separate entity. PAYG payment summary - superannuation income stream for payees who received an income stream benefit (a pension or annuity) from a superannuation fund, approved deposit fund or life insurance company. Payment summaries for various other types of payments subject to PAYG withholding must be issued within a short period after the payment is made. Employers utilising Single Touch Payroll (STP) are not required to issue payment summaries for amounts covered by STP.

14 Jul 2022	Employee share schemes	Due date for providers of interests in employee share schemes (ESS interests) to provide Employee share scheme statements to employees.

21 Jul 2022	Activity statements	Due date for entities that are not "deferred BAS payers" to lodge and pay monthly activity statements for June 2022. Tax obligations that may be payable include: GST, wine equalisation tax and luxury car tax for June 2022. PAYG withholding: for June 2022 (medium withholders). for the June 2022 quarter (small withholders). for the year to 30 June 2022, from employee share schemes amounts where the employee did not quote a TFN or ABN. for the year to 30 June 2022 by investment bodies, from accrued gains on deferred interest securities where the investor did not quote a TFN. PAYG instalment: for June 2022 for monthly PAYG instalment payers. for the June 2022 quarter for quarterly PAYG instalment payers (4th quarter of the 2021/22 income year). FBT instalment for the June 2022 quarter (1st quarter of the 2023 FBT year). An entity is generally a "deferred BAS payer" for a particular month, if the entity is a small or medium withholder (total annual PAYG withholding $1m or less), is not required to pay GST monthly, and has a quarterly tax obligation due that month (e.g. FBT instalment or GST). The quarterly activity statement due date applies (28 Jul 2021, or 25 Aug 2021 if lodged electronically through an agent or the entity is an active STP reporter).

21 Jul 2022	Activity statements	Due date for head companies of consolidated groups to lodge and pay quarterly instalment activity statements for the June 2022 quarter.

28 Jul 2022	Activity statements	Due date to lodge and pay quarterly activity statements for the June 2022 quarter (if lodged on paper and the entity is not an active STP reporter). Tax obligations that may be payable include: GST, wine equalisation tax and luxury car tax for the June 2022 quarter. PAYG withholding: for June 2022 (medium withholders). for the June 2022 quarter (small withholders). for the year to 30 June 2022, from employee share schemes amounts where the employee did not quote a TFN or ABN. for the year to 30 June 2022 by investment bodies, from accrued gains on deferred interest securities where the investor did not quote a TFN. PAYG instalment for the June 2022 quarter for quarterly PAYG instalment payers (4th quarter of the 2021/22 income year). FBT instalment for the June 2022 quarter (1st quarter of the 2023 FBT year). The due date to lodge and pay is 25 Aug 2021 if lodged electronically through a tax agent or BAS agent or the entity is an active STP reporter.

28 Jul 2022	PAYG instalments GST instalments	Due date to pay quarterly PAYG and/or GST instalment notice for the June 2022 quarter (4th quarter of the 2021/22 income year). Also due date to lodge the instalment notice if varying the instalment amount. If you have already lodged your income tax return, you should not vary your June quarter PAYG instalment.

28 Jul 2022	Superannuation	Due date for employers to pay superannuation guarantee contributions for the June 2022 quarter. Employers who fail to pay the minimum superannuation guarantee contributions by this date must pay the superannuation guarantee charge (SGC) and lodge a Superannuation guarantee charge statement - quarterly by 28 Aug 2022. The SGC is not tax deductible.

28 July 2022	TFN/ABN reporting	Due date for investment bodies to lodge quarterly TFN/ABN reports for the June 2022 quarter for new TFN/ABN quotations by investors.

31 July 2022	TFN reporting	Due date for closely held trusts to lodge quarterly TFN reports for the June 2022 quarter for TFNs quoted to a trustee by beneficiaries.

31 July 2022	Franking account tax return	Due date for June balancing companies (including New Zealand franking companies) to lodge the Franking account tax return 2022, where any of the following apply: a liability for franking deficit tax a liability for over-franking tax, or an obligation to notify the Commissioner of any significant variation in their benchmark franking percentage between franking periods. New Zealand franking companies are often "early balancing" companies with a 31 March year end. If those companies have any of the above obligations for the year to 31 March 2022, they should lodge using the 2021 form by 30 Apr 2022.

31 July 2022	Venture capital	Due date to lodge Venture Capital Deficit tax returns for June balancers.

31 July 2022	Early stage innovation	Due date to lodge Early stage innovation company reports.

31 July 2022	FACTA	Due date for Australian financial institutions to provide information to the ATO about US reportable accounts for FACTA purposes.

NOTE:

To ensure you receive the correct credit amount in your income tax assessment, finalise all your PAYG instalments before you lodge your tax return.
As some dates may vary, please ensure you contact the Australian Taxation Office to double check any dates in question.
When the due date for lodgment or payment falls on a Saturday, Sunday, or public holiday, it may be done on the next business day.

What our clients say...

“It would be fair to say that we have thrown a large variety of challenges at Maclean Partners since we partnered with them in 2017. Our direct contacts in Paul, Cherie and Tina have accepted each of our challenges with a high level of dedication and commitment. They have listened intently to understand our briefs and from there we have worked closely as a team to achieve the best outcome for our business, our staff and our clients. Maclean Partners are a welcoming and client focused organisation with a high calibre and dedicated group of accountants and support staff – and best of all, we really enjoy working with them.” - Read more
- Luke St. George, St. George Project Services
"Maclean Partners are very knowledgeable accountants who are always attentive and keen to learn more about how to improve our business. John and his team offer sound advice about tax and general accounting, as well as helping structure and manage the financial aspects of the business to our advantage". - Read more
- Tony Pascoe, NQ Foot and Ankle
"We've worked so hard over the past 10 years to get the business to where it is and sometimes you can't see the forest from the trees. Thanks to the Maclean Partners and the 90 Day Business Challenge, I found each module so helpful and the self-paced online aspect combined with the face to face coaching and workshops worked really well for us. - Read more
- Nelly Evans,Powdercoat Select
"Nelly (my wife) told me she had signed up for some business training and I told her it was a waste of time and money. I wasn't interested in doing it at all because both our businesses are firing on all cylinders, but to show her support, I went along to the first workshop and I was impressed. Nelly and I have been doing a lot of talking, but we realised that we never had the right mindset to take action. - Read more
- Glenn Evans, The Fencing Factory