Category: Critical Due Dates

The Fringe Benefits Tax year comes to an end on 31st March 2025

Are you aware what might trigger this extra tax for your business and just how costly it could be?
ATO says:
Fringe benefits tax (FBT) is a tax paid by employers on certain benefits provided to their employees, or to their employees’ family or other associates.
The employer pays FBT. This is equivalent to the gross income your employees would have to earn, at the highest marginal tax rate (including the Medicare levy), to buy the benefits themselves.

FBT can be quite costly, those employee perks might cost you a lot more than you anticipated or budgeted for!

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March 2025

There are a handful of important dates in March.

A crucial date is the FBT year end – if you don’t know what FBT is, its time to speak to your accountant to ensure you don’t get caught out with the Fun Business Tax.

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December 2024 BAS due real real soon!

5 minutes to midnight! The December BAS is due this Friday.

Make sure you lodge on time to avoid fines and if you are unable to pay in full, make a payment plan with the ATO.

Late lodgement may incur a fine ($330 – $1650) from the ATO and will void any current payment plan and make it much harder to request a new plan in the future.

Stop mucking about – act now!

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It's time to prepare your BAS for lodgement

December 2024 BAS due soon!

We have been beavering away preparing BASs – make sure you respond to our emails and provide bank statements ASAP so we can work our magic and lodge your BAS by Friday 28th February. Don’t risk being fined by the ATO.

It’s time for action!

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January 2025

Hello 2025!

Ease yourself back into work, but don’t miss the big ticket dates.
Super needs to be authorised earlier than usual to meet the deadline which is on the long weekend.
Who is looking forward to back to school?!

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November IAS due!

Don’t forget to arrange payment of your November IAS before you shut up shop for the year.
It’s due by Monday 23rd December at the absolute latest.
If you are unable to pay in full, contact the ATO on 13 72 26 to arrange a payment plan to get you through the summer break.

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December 2024

There is a bit to cram in before the gifts are stuffed down the chimney!

We’ll be hosting our final coffee club for 2024, St Nicholas Day marks the official start of Christmas, take a break for a cuppa on International Tea Day, lodge and pay the November IAS before shutting up shop for the year.
Then lots of celebrations!

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October IAS

October IAS is due – lodge and pay right now!
If you are unable to pay in full, contact the ATO to arrange a payment plan.

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November 2024

Party season is ramping up!
Don’t forget to make sure you are meeting ATO deadlines.
And hoover up some fairy bread 😋

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