Blog

• Taxpayers are encouraged to have all their ‘paperwork’ before lodging their returns. This helps avoid delays with missing information, for example, where there are multiple sources of income. 

• reminder that the income tax cuts, which started on 1 July 2024, don't apply to the 2023-24 tax return 

• the importance of keeping accurate records and having records to substantiate any claims 

• that there is updated web content for the Small business energy incentive including eligibility requirements and how to claim 

• for an employer with a mixture of both closely held payees and arms-length employees, the due date for end-of-year STP finalisation for closely held payees is 30 September each year. All other employees are due 14 July each year.

  If you have 20 or more employees the final date to finalise is 14 July

• that super guarantee contributions need to be paid in full, to the right fund, by 28 July 
• June 2024 income tax installments are due on 28 July

There’s more and the ATO website provides regular updates. 

Tax matters can be complex and understanding what’s within the tax laws can be confusing. If that’s you, you are not alone.  

If you need help, contact Blackburn Accounting. We are here ready to make Tax Time less stressful and minimise your tax contributions within the ‘rules’.