January 2025 Compliance Deadlines
As the new year begins, it’s essential to stay on top of upcoming compliance deadlines. Meeting these requirements is vital to ensuring your business remains financially healthy and fully compliant.
January 2025 Key Dates
28 January
Superannuation Contributions Due
Ensure that super guarantee contributions for the December 2024 quarter are paid to the respective funds by this deadline.
Important Reminder: Employers who fail to make the minimum required super contributions for Quarter 2 by this date will be liable for the Superannuation Guarantee Charge. In such cases, a Superannuation Guarantee Charge Statement must be lodged, and the charge paid, no later than 28 February 2025.
31 January
Tax Return Lodgment Deadline
Tax returns for taxable large and medium entities (excluding individuals) must be lodged by this date unless an earlier deadline applies, based on the most recent year lodged.
Payment Deadlines for Entities with a 31 January Lodgment Date:
- Companies and Super Funds: Payment is due by 1 December 2024.
- Trusts: Payment deadlines are outlined on their Notice of Assessment.
Important Note: Do not assume a later lodgment date based on the expectation that the taxpayer will be non-taxable for the current year. If you require a deferral for lodgment, the request will undergo manual review by the ATO as an assessed deferral. Ensure all deadlines are met to avoid penalties or delays.
For more detailed information, visit the ATO website.
Staying ahead of tax lodgment deadlines is key to avoiding penalties and keeping your finances in order. Acting promptly not only ensures compliance but also gives you peace of mind knowing everything is handled on time.
At Banyan Consulting, we’re here to make tax time stress-free. Whether you need guidance or hands-on support, our team is ready to help. Have questions or need assistance? Reach out to us anytime at reception@banyanconsulting.com.au or give us a call at 02 9283 9888.
Please note: This list of lodgment program due dates is a guide and not all-inclusive. Timelines and events may change, so staying updated is crucial. Unless stated otherwise, the dates provided apply to 30 June balancers only.
Remember, if a due date falls on a weekend or public holiday, you have until the next business day to lodge or pay. Payment deadlines for tax returns depend on your client type, lodgment due date, and when the return is lodged. Don’t leave it to chance—let’s tackle this together!