Category: Critical Due Dates

April – June 2023 super is due now

Any unpaid April-June super contributions must be received (by fund) by 28th July.

Payments should be authorised right now as it can take several days to process.

Late payments of superannuation require a Super Guarantee Charge (SGC) statement to be submitted to the ATO. The payment will not be tax deductible to your business.
If you are a director of a company, you need to pay the SGC in full by the due date. If you do not, you’ll be liable for a penalty equal to the unpaid amount, so prioritise this over any other payment.

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June 2023 BAS

It’s time to start preparing your June BAS
Using our BAS agent extension – the payment due date is 25th August.

Late lodgement will void any payment plan you have in place with the ATO and you also risk being fined.

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Minimum wage increase after 1st July 2023

From 1 July 2023, the new National Minimum Wage will be $882.80 per week or $23.23 per hour.
The new National Minimum Wage will apply from the first full pay period starting on or after 1 July 2023.
Awards are being updated soon, you may need to update your workplace agreements to ensure they are not below the new minimums.

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May IAS is due soon

Put some money aside and keep an eye out for the IAS for you to e-sign – its due on Wednesday 21st June.

Don’t get fined for late lodgement!

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2022/2023 financial year is coming to an end. Are you prepared?

Don’t go making crazy purchases without reviewing where you are at, and speaking to your tax accountant. EOFY deals are great for salespeople trying to meet their commission targets, they might not really benefit you and your business.

Review your position
You can’t make sensible last minute decisions without data.
Take a look at your bottom line – before hitting the shops.

The end of the financial year is nigh, now is the time to prepare yourself. Make sure you take advice from licenced professionals.

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March 2023 BAS due today!

Make sure you’ve lodged or authorised us to lodge on your behalf.
Payment is also due today – can’t pay in full? Make a payment plan.

Not ready yet? Stop mucking around and get your butt into gear!

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Temporary Full Expensing ending soon

Don’t get caught up in the hype. Making big purchases for tax benefits may not benefit your business. There, we said it.
Read the fine print and understand the rules (or speak to someone who is licenced to explain the rules to you).
Don’t forget the salesperson would love to meet sales targets and get paid a big fat commission, but they are not licenced to give you tax advice.
Taking on lots of finance to shaft the ATO could cost you a lot more than you think!

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Mooted changes to super

You may have seen news stories about ‘improvements’ to super starting in 2026. Its not yet law, so don’t get ahead of yourself.
Assuming the bill passes….
From 2026 you will need to pay super on behalf of your employees each time you pay their wages. Payment frequency will change from quarterly to weekly/fortnightly/monthly (or a combination). Payments will be due much sooner than you have been used to.

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