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Tax Checklist
2018 - 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
Money Talks
July 2018 - Money Talks
COMPANY TAX CHANGE IN LIMBO: An issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 2018 and the maximum franking rate on dividends paid during the 2018 income year. Find out more
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Key Dates - August 2018

Date Category Description
     
14 Aug 2018 PAYG withholding Due date for the following entities to lodge the PAYG payment summary statement for the year ended 30 June 2018:
  • large withholders (total annual PAYG withholding more than $1m).
  • small and medium withholders who don't have a tax agent or BAS agent involved in preparing the report.

Types of payment summaries that may need to be reported include:

  • PAYG payment summary - individual non-business.
  • PAYG payment summary - foreign employment.
  • PAYG payment summary - business and personal services income.
  • PAYG payment summary - superannuation income stream.
  • PAYG payment summary - superannuation lump sum.
  • PAYG payment summary - employment termination payment.

Small and medium withholders who use a tax agent or BAS agent to prepare this report can lodge by 30 Sep 2018 (if payees include unrelated persons) or the due date of their tax return (if closely held payees only).

     
14 Aug 2018 Superannuation  Due date for superannuation funds and retirement savings account (RSA) providers to report Departing Australia superannuation payments (DASPs) made during the year ended 30 June 2018, if the payers are also required to lodge the PAYG payment summary statement as noted above.
Superannuation funds and RSA providers that are not required to lodge the PAYG payment summary statement must report DASPs in a separate annual report by 31 Oct 2018.
     
14 Aug 2018 Employee share schemes Due date for providers of interests in employee share schemes (ESS interests) to lodge the Employee share scheme (ESS) annual report for the year ended 30 June 2018.
     
21 Aug 2018 Activity statements  Due date to lodge and pay monthly activity statements for July 2018. Tax obligations that may be payable include:
  • GST, wine equalisation tax and luxury car tax for July 2018.
  • PAYG withholding for July 2018 (medium withholders).
  • PAYG instalment for July 2018 for monthly PAYG instalment payers (corporate tax entities with instalment income (as defined) above $1 billion).
     
25 Aug 2018 Activity statements Due date to lodge and pay quarterly activity statements for the June 2018 quarter (if lodged electronically through a tax agent or BAS agent). Tax obligations that may be payable include:            
  • GST, wine equalisation tax and luxury car tax for the June 2018 quarter.
  • PAYG withholding:
    • for June 2018 (medium withholders).
    • for the June 2018 quarter (small withholders).
    • for the year ended 30 June 2018, from employee share schemes amounts where the employee did not quote a TFN or ABN.
    • for the year ended 30 June 2018 by investment bodies, from accrued gains on deferred interest securities where the investor did not quote a TFN.
  • PAYG instalment for the June 2018 quarter for quarterly PAYG instalment payers (4th quarter of the 2017/18 income year).
  • FBT instalment for the June 2018 quarter (1st quarter of the 2019 FBT year).

The due date to lodge and pay is 28 Jul 2018 if lodged on paper.

     
28 Aug 2018 Superannuation  Due date for employers who failed to pay the minimum superannuation guarantee contributions by 28 Jul 2018 to pay the superannuation guarantee charge (SGC) and lodge a Superannuation guarantee charge statement - quarterly. The SGC is not tax deductible.

NOTE:

  • 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 lodgement or payment falls on a Saturday, Sunday, or public holiday, it may be done on the next business day.

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