Lodging taxes is a yearly grind that every accountant must go through, and each year it becomes tougher as the tax laws and regulations are changed. That’s why we created this tax calendar guide to help accounting firms track deadlines. Let’s look at the vital tax due dates by the month in Australia and New Zealand.
Australian Tax Timetable
Here’s Australia’s tax timetable so you can stay updated with key tax dates and deadlines in 2024.
January 2024
| DATES | DETAILS |
|---|---|
| JANUARY 21 | Taxpayers without a lodgement concession, the Business Activity Statement (BAS) or Instalment Activity Statement (IAS) for December 2023 must be lodged and paid by the due date. |
| JANUARY 28 | Superannuation quarterly payment due for period ending 31 December 2023. |
| JANUARY 31 | Income tax returns for medium to large taxpayers (with an annual total income exceeding $10 million in the latest lodgement year) for the year ending June 2023 are due. Please note that while lodgement isn't due until this date, payment was required earlier, by December 1, 2023. |
February 2024
| DATES | DETAILS |
|---|---|
| FEBRUARY 21 | BAS/IAS monthly return and payment due for December 2023 for businesses with up to $10 million in turnover who lodge electronically with a registered tax agent. |
| FEBRUARY 21 | Monthly BAS/IAS returns and payments are due for January 2024. |
| FEBRUARY 28 | Income tax returns for the fiscal year ending in June 2023 are due for medium to large entities whose total annual income exceeded $10 million in their last lodgement year but was non-taxable in the most recent lodgement year. |
| FEBRUARY 28 | Lodge tax returns for newly registered medium-large entities (taxable and non-taxable) for June 2023 year-end. |
| FEBRUARY 28 | Quarterly BAS return is due for the period ending 31 December 2023. |
March 2024
| DATES | DETAILS |
|---|---|
| MARCH 21 | Monthly BAS/IAS returns and payments are due for February 2024. |
| MARCH 31 | Income tax returns for the June 2023 year-end are due for all entities that had a tax liability of $20,000 or more on their latest return, excluding medium/large entities with an earlier lodgement date. |
April 2024
| DATES | DETAILS |
|---|---|
| APRIL 21 | Monthly BAS/IAS returns and payments are due for March 2024. |
| APRIL 28 | Superannuation quarterly payment is due for the period ending 31 March 2024. |
May 2024
| DATES | DETAILS |
|---|---|
| MAY 15 | Income tax returns for the June 2023 year-end are due for all entities that did not require earlier lodgements and were not eligible for any other concessions. |
| MAY 21 | Monthly BAS/IAS returns and payments are due for April 2024. |
| MAY 21 | Fringe Benefit Tax annual return and payment are due for the period ending 31 March 2024 for businesses that either self-file or use a tax agent who files via paper/post. |
| MAY 26 | Quarterly BAS return is due for the period ending 31 March 2024. |
June 2024
| DATES | DETAILS |
|---|---|
| JUNE 21 | Monthly BAS/IAS returns and payments are due for May 2024. |
| JUNE 25 | The Fringe Benefit Tax annual return and payment are due for the period ending 31 March 2024 for businesses using a tax agent who files electronically. |
| JUNE 30 | End of the financial year. This marks the conclusion of financial affairs for individuals and businesses alike. |
July 2024
July marks the beginning of Australian accountants’ busy season and it will run until October 31st.
| DATES | DETAILS |
|---|---|
| JULY 14 | The finalisation declaration for payments to your employees is due. Find out more about end-of-year finalisation through Single Touch Payroll (STP) on the Australian Taxation Office (ATO) website. |
| JULY 21 | Monthly BAS/IAS returns and payments are due for June 2024. |
| JULY 28 | Superannuation quarterly payment is due for the period ending 30 June 2024. |
August 2024
| DATES | DETAILS |
|---|---|
| AUGUST 21 | Monthly BAS/IAS returns and payments are due for July 2024. |
| AUGUST 25 | Quarterly BAS return is due for the period ending 30 June 2024. |
| AUGUST 28 | Taxable Payments Annual Report (TPAR) is due for the tax financial year ending 30 June 2024. |
September 2024
| DATES | DETAILS |
|---|---|
| SEPTEMBER 21 | Monthly BAS/IAS returns and payments are due for August 2024. |
| SEPTEMBER 30 | Finalisation of Single Touch Payroll is required for closely held employees for the financial year calendar ending 30 June 2024. |
October 2024
| DATES | DETAILS |
|---|---|
| OCTOBER 21 | Monthly BAS/IAS returns and payments are due for September 2024. |
| OCTOBER 28 | The superannuation quarterly payment is due for the period ending 30 September 2024. |
| OCTOBER 31 | For the 2023-2024 tax financial year, income tax returns are due for all entities that had one or more overdue tax returns as of 30 June 2024 or were prosecuted for prior non-lodgement and have been instructed to lodge by 31 October. |
November 2024
| DATES | DETAILS |
|---|---|
| NOVEMBER 21 | Monthly BAS/IAS returns and payments are due for October 2024. |
| NOVEMBER 25 | The quarterly BAS return is due for the period ending 30 September 2024. |
December 2024
| DATES | DETAILS |
|---|---|
| DECEMBER 1 | Income tax payments for the 2023-2024 financial year are due on 31 October 2024 for medium-large taxpayers and any entities required to lodge their tax returns by that date. Please note, that while payment for medium-large entities is due on this date, lodgement isn't required until January 2025. |
Pay-As-You-Go (PAYG) Withholding
PAYG withholding payments are ongoing. They are usually due monthly or quarterly. Monthly payments are due by the 21st day of the following month. Quarterly reporting deadlines align with those of quarterly BAS submissions.
New Zealand Tax Calendar
Meanwhile here’s the calendar to keep track of important tax dates and deadlines in New Zealand.
January 2024
| DATES | DETAILS |
|---|---|
| JANUARY 17 | Goods and Services Tax (GST) return and payment due. |
| JANUARY 17 | Provisional tax payments are due for individuals and organisations who submit GST returns monthly or every two months, or who are not registered for GST. |
| JANUARY 17 | 6 Provisional tax payments are due for individuals and organisations who utilise the ratio method. |
| JANUARY 20 | Quarterly Fringe Benefits Tax (FBT) return and payment are due. |
| JANUARY 28 | GST return and payment due. |
February 2024
| DATES | DETAILS |
|---|---|
| FEBRUARY 7 | End-of-year income tax for 2023 is due for individuals and organizations without a tax agent. |
March 2024
| DATES | DETAILS |
|---|---|
| MARCH 28 | GST return and payment due. |
| MARCH 28 | Provisional tax payments are due for individuals and organisations using the ratio method. |
| MARCH 31 | GST return and payment due. |
| MARCH 31 | The 2023 income tax return is due for clients of tax agents who have a valid extension of time. |
| MARCH 31 | New Zealand’s official end-of-income tax year. |
April 2024
| DATES | DETAILS |
|---|---|
| APRIL 7 | If you have been granted an extension of time to file your income tax return, your end-of-year income tax and Working for Families bills are now due. |
May 2024
| DATES | DETAILS |
|---|---|
| MAY 7 | GST return and payment due. |
| MAY 7 | Provisional tax payments are due for individuals and organisations that submit GST returns monthly or every two months, or for those who are not registered for GST. |
| MAY 7 | Provisional tax payments are due for individuals and organisations that file GST every six months. |
| MAY 7 | Provisional tax payments are due for individuals and organisations using the ratio method. |
| MAY 27 | GST return and payment due for period 31 March. |
| MAY 27 | Quarterly FBT return and payment due. |
| MAY 27 | Annual FBT return and payment due. |
| MAY 31 | Quarterly Fringe Benefits Tax (FBT) return and payment are due, as well as the annual FBT return and payment. |
June 2024
| DATES | DETAILS |
|---|---|
| JUNE 28 | GST return and payment due. |
| JUNE 28 | Provisional tax instalments due for people and organisations who use the ratio method. |
July 2024
| DATES | DETAILS |
|---|---|
| JULY 7 | The 2023 income tax return is due for individuals and organisations without a tax agent or an extension of time. |
| JULY 22 | Quarterly FBT return and payment due. |
| JULY 28 | 3 GST return and payment due. |
August 2024
| DATES | DETAILS |
|---|---|
| AUGUST 28 | 3 GST return and payment due. |
| AUGUST 28 | Provisional tax instalments due for people and organisations who file GST on a monthly or two-monthly basis, or aren’t registered for GST. |
| AUGUST 28 | Provisional tax instalments due for people and organisations who use the ratio method. |
September 2024
| DATES | DETAILS |
|---|---|
| SEPTEMBER 28 | GST return and payment due. |
November 2024
| DATES | DETAILS |
|---|---|
| NOVEMBER 28 | GST return and payment due. |
Preparing for the Busy Season
We get it; the tax time seems like all year round and with the tax months hastily approaching it will be more overwhelming than usual.
The good news is there are always measures that you can take to make it less stressful. Here are some tips we’d like to share with you to help your firm meet the tax due dates effectively:
Encourage Your Clients to Be a Good Recordkeeper
Encourage clients to gather all their necessary tax documents beforehand. Advise them to dedicate a specific storage or digital folder for tax documents to ensure everything is within arm’s reach.
Stay in the Loop
Keep updated on the latest tax news that may affect your client’s situation.
Utilize Tax Preparation Software
Invest in tax preparation software to streamline the process and accuracy of your tax return.
Increase Your Capacity
Avoid getting your firm stuck in a quagmire of tasks by scaling up your team. Consider outsourced accounting services to reduce costs without sacrificing the quality of service.
Stay up to Date with the Latest Tax News
Whether your firm strutted through this tax season like a champ or found your firm struggling, it’s crucial to stay informed about tax due dates. If you have any questions about outsourced accounting or are ready to discuss adding more team members, you can book a call with us — we’re more than happy to chat.
