Key Due Dates - August 2021

This is a friendly reminder of the upcoming key due dates for SME business in August 2021:

16 August 2021
Category Description
PAYG Withholding

Due date for the following entities to lodge the PAYG Payment Summary Statement for the year to 30 June 2021:

  • large withholders (total annual PAYG withholding more than $1m).
  • small and medium withholders who don't have a tax agent or BAS agent involved in preparing the report.

Types of payment summaries that may need to be reported include:

  • PAYG payment summary - individual non-business.
  • PAYG payment summary - foreign employment.
  • PAYG payment summary - business and personal services income.
  • PAYG payment summary - superannuation income stream.
  • PAYG payment summary - superannuation lump sum.
  • PAYG payment summary - employment termination payment.

Small and medium withholders who use a Tax Agent or BAS Agent to prepare this report can lodge by 30 Sep 2021 (if payees include unrelated persons) or the due date of their tax return (if closely held payees only). Employers utilising Single Touch Payroll (STP) are not required to provide an annual report for amounts covered by STP.

Superannuation

Due date for superannuation funds and retirement savings account (RSA) providers to report Departing Australia Superannuation Payments (DASPs) made during the year to 30 June 2021, if the payers are also required to lodge the PAYG payment summary statement as noted above.

Superannuation funds and RSA providers that are not required to lodge the PAYG payment summary statement must report DASPs in a separate annual report by 31 Oct 2021.

Employee Share Scheme

Due date for providers of interests in employee share schemes (ESS interests) to lodge the Employee Share Scheme (ESS) - Annual Report for the Year to 30 June 2021.

23 August 2021
Category Description
GST Final date for eligible monthly GST payers to elect to report GST annually for 2021/22.
Activity Statements

Due date to lodge and pay monthly activity statements for July 2021. Tax obligations that may be payable include:

  • GST, Wine Equalisation Tax, and Luxury Car Tax for July 2021.
  • PAYG Withholding for July 2021 (medium withholders).
  • PAYG Instalment for July 2021 for monthly PAYG instalment payers.
25 August 2021
Category Description
Activity Statements

Due date to lodge and pay Quarterly - Activity Statements for the June 2021 quarter (if lodged through a Tax Agent or BAS Agent, or the entity is an active STP reporter).

Tax obligations that may be payable include:

  • GST, Wine Equalisation, and Luxury Car Tax for the June 2021 Quarter.
  • PAYG Withholding:
    • for June 2021 (medium withholders),
    • for the June 2021 quarter (small withholders),
    • for the Year to 30 June 2021, from Employee Share Schemes amounts where the employee did not quote a TFN or ABN,
    • for the Year to 30 June 2021 by investment bodies, from accrued gains on deferred interest securities where the investor did not quote a TFN.
  • PAYG Instalment for the June 2021 quarter for Quarterly - PAYG Instalment payers (4th quarter of the 2020/21 Income Year).
  • FBT Instalment for the June 2021 quarter (1st quarter of the 2022 FBT Year).
The due date to lodge and pay is 28 July 2021, if lodged on paper and the entity is not an active STP reporter.

30 August 2021
Category Description
Superannuation Due date for employers who failed to pay the minimum Superannuation Guarantee Contributions by 28 July 2021 to pay the Superannuation Guarantee Charge (SGC) and lodge a Superannuation Guarantee Charge Statement - Quarterly. The SGC is not tax deductible.

Taxable Payment

Due date for taxpayers in the following industries to lodge the taxable payments annual report in respect of payments made to contractors providing services to the taxpayer during the year to 30 June 2021:

  • Building and constructions services
  • Cleaning services
  • Courier services
  • Road freight transport services
  • Information technology, computer system design and related services
  • Security and surveillance providers and investigation services
Government Grants Due date for Government entities to report grants they have paid during the year to 30 June 2021 using the taxable payments annual report.
Life Insurance Due date for life insurance companies with a year end of 30 June 2021 to determine the transfer value of complying superannuation assets and segregated exempt assets and to value complying superannuation liabilities and exempt life insurance policy liabilities.

For More Information 

For more information or assistance in these matters, please contact the Archer Gowland Redshaw office to speak with our team of advisers on (07) 3002 2699.

 

** Please note, the above dates have been amended where they fall on a weekend or public holiday.

Aisha Thomas

Written by Aisha Thomas

Aisha is a fully-qualified Business Services Manager, with over 12 years’ experience working within the Accounting industry. In her role with Archer Gowland Redshaw, Aisha specialises in providing tailored accounting, taxation, and strategic business advice to SMEs and high-net wealth individuals – helping clients to achieve their best financial and business outcomes.