fullstack_logo

Post 30 June 2021 – Key Dates, Changes and Actions

30 June due dates

The end of the financial year is here. There are some key dates and changes that you need to know about.

DateChanges and actions
25 June 2021
  • FBT returns due.
Pre 30 June 2021
  • Review shareholder loan accounts and make minimum loan repayments (may need to declare dividends). The maximum franking percentage rules have changed recently – we can discuss this with you
  • Pay superannuation to deduct contributions in the current financial year
  • Complete a stocktake where required
  • Write-off bad debts and scrap any obsolete stock or plant and equipment
  • Ensure any inter-entity management fees have been raised
  • Organise Trust Resolutions where trust had income in the year
30 June 2021
  • Extension for COVID-19 impacted minimum Division 7A loan repayments for the 2020 year ends and loans need to be brought up to date.
1 July 2021
  • Company tax rate for base rate entities reduces to 25%
  • Super guarantee rate increases to 10%
  • New guidance on tax treatment of profits of professional services firms applies
  • Single touch payroll commences for closely held employees – family members, directors etc
  • New ‘stapled’ super obligations intended to commence.
14 July 2021
  • Single touch payroll finalisation declarations need to be made (extensions can apply for closely held payees).
28 July 2021
  • Quarterly super guarantee payment due (1 April – 30 June).
31 July 2021
  • Early stage innovation company report due.
14 July 2021
  • ATO ESS Annual Report due (applies to ESOPs as well).
28 August 2021
  • Taxable payments annual reports for payments to contractors due.
6 October 2021
  • Last day for hiring employees to qualify for the JobMaker hiring credit.
31 March 2022
  • Last day of the 50% boosting apprenticeship wage subsidy.
1 July 2022
  • Super guarantee rate increase to 10.5%.
30 November 2022
  • Last day for existing company directors to acquire a Director Identification Number (30 November for directors of corporations under CATSI).

Was this article helpful?

Related Posts

illustration-Stuart-1
Stuart Reynolds is the founder of Fullstack Advisory, an award-winning accounting firm for businesses leading the future. He is a 3rd generation accountant who specialises in tech & online companies.

Share this Article

Accounting & TaxEOFY

Find out more.

Related Posts

Need accounting
help?

Request a consultation and speak to one of our business accountants & advisors. Get clear next steps for your project.

Schedule Consultation

Connect with us

Ask Us a Question?

Reach out to us about any of the topics in this article.

Keep Learning

CONTACT US

Speak to our experts

Other ways to get in touch with us.

calendly contact

calendly.com/fullstack

Icon 2

1300 887 627

Your Privacy

Privacy

We will never share your details with any third-party.

This form collects your name contact number and email address so that we can contact with you and provide a quote for our services. Please check our Privacy policy to see how we protect and manage your submitted data.

HEAD OFFICE

Sydney

Suite 63, 388 George St, Sydney NSW 2000

BY APPOINTMENT

Melbourne

120 Spencer St Melbourne VIC 3000

BY APPOINTMENT

Brisbane

310 Edward St Brisbane QLD 4000

LinkedinTwitterYoutube