Your Tax Due Dates for Quarter 1, 2020January 29, 2020 4:57 am
These are the Key Tax Lodgement and Due Dates for Your Fiscal Year 2019-2020
The start of 2020 means that we’re halfway through the fiscal year! And are you updated on your tax due dates? If not, you’re in luck. To help you keep track of your tax deadlines for the 2019-2020 fiscal year, here’s a quick rundown of the due dates for the Quarter 1 of 2020. We’ll be sharing the tax due dates for Quarter 2, 2020, in a future post.
Your Tax Due Dates for Quarter 1, 2020
The following schedule covers due dates for the lodgement and payment of individual and business taxes, employee lodgement, as well as other tax charges and superannuation payments. It also applies for small, medium and large businesses, and consolidated group tax lodgements.
- 28 January: Your due date for paying quarter 2, 2019–20 guarantee contributions to superannuation funds. Missing this deadline means paying a charge and lodging NAT 9599 by 28 February 2020.
- 31 January: Your due date for lodging TFN reports for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 2, 2019–20.
- 21 February: Your due date for lodging December 2019 and January 2020 monthly business activity statements for businesses with up to $10 million turnover.
- 28 February:
- Your due date for lodging tax returns for non-taxable medium and large entities, consolidated groups, and new registrants (taxable and non-taxable).
- Your super funds (new and current) and trusts (belonging in this category) are also required to lodge their tax returns on this date.
- This is also your due date for lodging the Quarter 2, 2019–20 business activity statements for all lodgement methods, your Quarter 2, 2019–20 Superannuation guarantee charge statements, and your annual GST returns.
- If you’re an individual taxpayer, you don’t have to worry about lodging your returns on this date.
- 21 March: Your due date for lodging your February 2020 monthly business activity statements.
- 31 March:
- Your due date for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers) to lodge their tax returns.
- This is also the due date for the head company of consolidated groups with members with a total income in excess of $2 million in their latest year lodged, to lodge their tax returns (unless the due was set for an earlier date).
- It is the due date for individuals and trusts whose latest returns have tax liabilities of $20,000 or more, to lodge their tax returns (excluding medium and large trusts).
Please note that this is not a comprehensive list; it is merely a guide to help you know when your lodgements are due, and the actual dates and periods may change according to the ATO or to other circumstances. It’s wise to note that if any of these due dates fall on a weekend or on a public holiday, you may be able to make your payments on the following business day.
So don’t miss these tax due dates! If you want to know more about your tax responsibilities, returns, or refunds, get in touch with pinkcow—we’d love to help.