Tax Deadlines in September: What You Need to Know

As a tax agent, I often remind clients about the importance of being aware of tax deadlines to avoid penalties and ensure compliance. September is a critical month in the Australian tax calendar, with several important obligations due. Here’s a guide to the key tax deadlines in September you should be aware of.

1. Quarterly Business Activity Statement (BAS)

  • Due Date for June Quarter: For businesses that report quarterly, the BAS for the June quarter is typically due in September.
  • Lodgment and Payment: Ensure both lodgment and payment of your BAS by the due date to avoid penalties.

2. Quarterly Superannuation Guarantee Contributions

  • Super Contributions for Employees: September marks the deadline for the quarterly superannuation guarantee contributions for employees. The contributions for the July to September quarter are due.
  • Timely Payments: Late payments can incur the Superannuation Guarantee Charge (SGC), which is non-deductible.

3. Pay As You Go (PAYG) Installments

  • Quarterly PAYG Installments: If you’re registered for PAYG installments, the payment for the June quarter may be due in September.
  • Managing Cash Flow: Ensure that you have budgeted for these payments to manage your cash flow effectively.

4. Company and Trust Tax Returns

  • For Certain Entities: Some companies and trusts may have a tax return due date in September, depending on their circumstances and previous lodgment history.
  • Seeking Extensions: If you’re unable to meet this deadline, contact your tax agent to discuss the possibility of an extension.

5. Individual Tax Returns

  • Extended Deadlines: If you’re lodging your individual tax return through a tax agent, you may have an extended deadline. However, it’s important to have registered with your tax agent by the end of October.
  • Preparation: Start gathering all necessary documents if you haven’t already done so.

6. Reviewing Your Tax Position

  • Assessment: September is a good time to review your tax position, especially if you have ongoing tax obligations, such as PAYG installments or GST collections.
  • Planning Ahead: Use this opportunity to plan for future tax payments and ensure you’re taking advantage of all available deductions and offsets.

7. Stay Informed and Compliant

  • Regular Check-Ins: Tax laws and deadlines can change. Regularly check with the Australian Taxation Office (ATO) or your tax agent for the most current information.
  • Professional Assistance: A tax agent can provide valuable assistance in meeting your tax obligations and keeping you compliant.

Staying on top of your tax obligations is crucial for smooth financial operations and legal compliance. September brings several key tax deadlines that require attention and action. By being proactive and organised, and with the assistance of a tax professional, you can ensure that you meet all your tax obligations efficiently and on time.