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Key Financial Year (FY) Dates in the Australian Calendar for 2023 | Payroll classic EOFY FAQ

Updated

Available for the following plans: Employment Lite, Employment Plus, Employment Unlimited
Available for the following Payroll plans: Standard, Premium

Question

What are the key Financial Year (FY) dates in the Australian calendar?

Answer

The Australian Financial Year Calendar has an array of key dates and cut-off periods for businesses with employees. These are vital for companies to know in advance when due dates are coming up, and to help you meet your tax reporting and payment obligations. Make work easier by keeping on top of due dates so they do not sneak up on you.

When a due date falls on a Saturday, Sunday or public holiday, you can lodge or pay on the next business day. The list of key dates is not comprehensive, and we sourced it from the Australian Taxation Office. It is just a summary and we strongly encourage that you seek professional, independent legal, financial, taxation or other advice if you need more information.

Monthly breakdown

May 2023
  15th
  • Partnership & Trust Income tax returns need lodging.
  • Company income tax returns need lodging.
    • 2021 tax returns for all entities that did not lodge earlier, including all remaining consolidated groups, and are not eligible for the 5th of June concession, need lodging.
  • Companies and super funds paid (if required).

    Helpful Hint

    Individuals and trusts in this category pay as advised on their notice of assessment.

 21st

  • April 2023 monthly Business Activity Statement (BAS) lodged and paid.
  • Final date to add new Fringe Benefit Tax (FBT) clients to your client list to make sure they receive the lodgment and payment concessions for their fringe benefits tax returns.
  • Fringe Benefit Tax (FBT) Annual Return lodged and paid if sending by paper.

  28th

  • Fringe Benefit Tax (FBT) Annual Return lodged and paid if sending electronically.
June 2023

  5th

  • Tax returns are due to be lodged for all entities with a lodgement due date of the 15th May 2023 if the tax return is not required earlier, and you must have met both the following criteria:
      • Non-taxable or a credit assessment in the last year lodged.
      • Non-taxable or receiving a credit assessment in the current year.

    Helpful Hint

    It includes companies and super funds but excludes large/medium taxpayers and head companies of consolidated groups.

  • Tax returns are due to be lodged for individuals and trusts with a lodgment due date of the 15th of May 2023, provided they also pay any liability due by this date.

    Helpful Hint

    It is not a lodgment due date, but a concessional arrangement where failure to lodge on time (FTL) penalties will not apply if you lodge and pay by this date.

  21st

  • Lodge and pay May 2023 monthly Business Activity Statement (BAS) if lodging monthly.

  25th

  • Fringe Benefit Tax (FBT) Annual Return for tax agents needs lodging and paid if sending electronically.

  30th

  • Superannuation Guarantee Contribution (SGC) payments paid if you want to qualify for a tax deduction in the current fiscal year.
  • The fiscal year ends today! Prepare for end of financial year (EOFY).
  • Pencils down....time to wrap up your books for the 2022/23 financial year!
July 2023

  1st

  • A new fiscal year begins today!
  • Individual income tax returns are due from now until the 31st October if preparing and lodging yourself.
  • Sole trader/self-employed tax returns are due from now until the 31st October if preparing and lodging yourself.
  • Partnership tax returns are due from now until the 31st October if preparing and lodging yourself.

  14th

  • Issue Pay As You Go (PAYG) withholding payment summaries for your employees (as the employer). It is in myGov for your employees if reporting with Single Touch Payroll (STP).

  21st

  • June 2023 monthly Business Activity Statement (BAS) lodged and paid if sending monthly.

  28th

  • Quarter four (April - June) 2023 quarterly Business Activity Statement (BAS) lodged and paid if sending quarterly.
  • Super Guarantee Contributions (SGC) for Quarter Four (April - June) 2023 needs paying.
August 2023

  14th

  • Pay As You Go (PAYG) withholding payment summaries annual report are due.

  21st

  • July 2023 Monthly Business Activity Statement (BAS) lodged and paid if sending monthly.
September 2023

  21st

  • August 2023 Monthly Business Activity Statement (BAS) lodged and paid if sending monthly.
October 2023

  21st

  • September 2023 monthly Business Activity Statement (BAS) lodged and paid if sending monthly.

  28th

  • Quarter one (July - September) 2023 quarterly Business Activity Statement (BAS) is due to be lodged and paid if lodging quarterly.
  • Super guarantee contributions (SGC) for Quarter one (July - September) 2023 are due.

  31st

  • Last day to submit individual income tax returns if you are lodging yourself.
November 2023

  21st

  • October 2023 Monthly Business Activity Statement (BAS) lodged and paid if sending monthly.
December 2023

  21st

  • November 2023 Monthly Business Activity Statement (BAS) lodged and paid if sending monthly.