Are you ready for the End of Financial Year?
Here’s how to prepare your business for the smoothest possible transition into the new financial year and keep your bookkeeper happy:
- Qleave calculations due 7th July
- Employees Income Statement (Payment Summary) STP Finalisation. Employers have until the 14th of July 2022 to submit to ATO. We will send you an email once complete so you can inform your employees. Employees need to access MyGov to find their income statement is ready for either their agent or themselves to complete their tax return.
- Super is due and payable by the 21st July 2022.
- Annual Payroll Tax Deadline is now 21st July 2022
- Building and Construction Industry – Long Service Leave reconciliation is also due late July 2022
- Workers Compensation Renewals are in line with Financial year so if your workers comp period finished 30/6/2022 the policy renewal will be due August
- Fairwork – Minimum wage increases effective first full pay period after 1/7/2022 for most awards
- BAS is due and payable. If you use BKSP to lodge your June Quarterly BAS this is due 25/8/2022. If you are on Monthly BAS it is due by the 21st of July 2022 (As BAS Agents BKSP get extra time for lodgement).
- Taxable Payment Reports (TPAR) for the Building & Construction, Security, Cleaning, Road Freight and IT Industries need to lodge this report with the ATO by 28th August 2022. – this is if you employ subcontractors
July is crazy in our industry so please be patient with us as we work to prepare all of this on time for you. Also feel free to send wine 😜
If you need any help to complete these important tasks please do not hesitate to reach out.
– Team BKSP
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