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Lodgement and Payment Due Dates

by | Jan 28, 2024 | ATO

Activity statement

  • Activity statement-monthly lodgement obligation

Monthly Lodgement obligation

Due date

BAS agent concession for lodgement & payment if lodging by Portal

December activity statement

21st January

NA
The electronic lodgement and payment concession does not apply to standard monthly activity statements.

Activity statement

21st of the following month

21st February – December monthly business activity statements for business clients with up to $10 million turnover who report GST monthly and have elected to receive and lodge electronically using a registered agent.

 

  • Activity statement-quarterly lodgement obligation

Quarterly Lodgement obligation

Original Due date

BAS agent concession for lodgement & payment if lodging by Portal

Quarter 4, 2022–23

28 July 2023

25 August 2023

Quarter 1, 2023–24

28 October 2023

25 November 2023

Quarter 2, 2023–24

28 February 2024

Not applicable

Quarter 3, 2023–24

28 April 2024

26 May 2024

Quarter 4, 2023–24

28 July 2024

5 August 2024

To be confirmed when the BAS agent lodgement program 2024–25 is developed.

 

Super guarantee charge (SGC) payment and lodgement dates

Quarter

SG payment due date

SGC & statement due date

1 July – 30 September

28 October

28 November

1 October – 31 December

28 January

28 February

1 January – 31 March

28 April

28 May

1 April – 30 June

28 July

28 August

Taxable payments annual report

Taxable payments annual report due by 28 August

 

PAYG withholding payment summary annual report

Must lodge PAYG withholding payment summary annual report by:

  • 14 August for large withholders (annual withholding more than $1 million) or those lodging without registered agent involvement
  • 30 September for payers who are using a registered agent to lodge (excluding large withholders).

 

 

 

 

 

 

 

Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Consult with legal professionals for personalized guidance based on your specific circumstances.

 

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Rates & Thresholds

by | Jan 28, 2024 | ATO

Tax Rates

The following table shows the individual resident tax rates and the thresholds, do not include 2% Medicare levy.

Marginal Tax Rates 2024–2025(Resident)

Taxable IncomeTax On Income
$0–$18,200Nil
$18,201–$45,00016c for each $1 over $18,200
$45,001–$135,000$ 4,288 plus 30c for each $1 over $45,000
$135,001–$190,000$31,288 plus 37c for each $1 over $135,000
$190,001>$51,638 plus 45c for each $1 over $190,000

Employment Termination Payment Cap (ETP)

An Employment Termination Payment (ETP) is a lump sum payment rather than a wage payment made as a result of termination. The Employment Termination Cap Threshold increases to $245,000 (Life and Death).

Life benefit termination payments ETP cap

Income yearAmount of cap
2024–25$245,000
2023–24$235,000
2022–23$230,000
2021–22$225,000
2020–21$215,000
2019–20$210,000
2018–19$205,000

Termination Thresholds

Redundancy Tax Free Lump Sum D Threshold increases to $12,524+ $6,264 for each completed year of service.

Genuine redundancy and early retirement scheme payment limits.

Income yearBase limitFor each complete year of service
2024–25$12,524$6,264
2023–24$11,985$5,994
2022–23$11,591$5,797
2021–22$11,341$5,672
2020–21$10,989$5,496
2019–20$10,638$5,320
2018–19$10,399$5,200

Payroll tax

Payroll tax is owed on any wages of total taxable Australia-wide wages that exceeds a threshold amount.

StateThreshold at April 2024Rate at April 2024
ACT$2,000,0006.85%
NSW$1,200,0005.45%
NT*$1,500,0005.5%
QLD Metro*$1,300,0004.75%-4.95%
QLD Regional*$1,300,0003.75%-3.95%
SA$600,000 Deduction <$1.5m ATW-exempt from PT  0%-4.95%
TAS$1,250,000 initial $2,000,000 subsequent4%-6.1%
VIC Metro$700,0004.85%
VIC Regional$700,0001.2125%
WA*$1,000,0005.5%

Superannuation

by | Jan 28, 2024 | ATO

Superannuation

Superannuation Contribution Caps

 Superannuation Guarantee increases to 11.0% on the 1st July 2023.

 Continues to increase each year by 0.5% to the 1st July 2025.

Applies to the first payroll payment made from 1st July 2025.

Annual concessional contribution cap remains at $27,500(2023/24) & $30,000 (2024/25)

Per quarter maximum contribution base increases to $62,270 (2023/24) & $65,070 (2024/25)

Period

General   Super

 guarantee (%)

 

 

1July 2022 – 30 June 2023

10.5%

 

1 July 2023 – 30 June 2024

1 July 2024 – 30 June 2025

11.50%

 

1 July 2025 – 30 June 2026

12.00%

 

1 July 2026 – 30 June 2027

12.00%

 

1 July 2027 – 30 July 2028 Onwards

12.00%

 

 

 

 

Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Consult with legal professionals for personalized guidance based on your specific circumstances.

 

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Taxable Payments Annual Reporting (TPAR)

by | Jan 24, 2024 | ATO

Under the taxable payments reporting system (TPRS), some businesses may need to report the total payments they made to contractors for relevant services. Government entities also may need to report payments they made for services and grants paid to people and organisations with an Australian business number (ABN).

These payments need to be reported to the Australian Taxation Office (ATO) in a taxable payments annual report (TPAR) by 28 August each year.

Payments made to contractors or subcontractors for the following services are to be reported:

  • Building and construction services.
  • Courier services.
  • Cleaning services.
  • Road freight services.
  • IT services.
  • Security, investigation, or surveillance services.

 

Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Consult with legal professionals for personalized guidance based on your specific circumstances.

 

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