Company tax return due dates Australia

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Even as a tax agent I find the language and layout of the ATO's guidance on company tax return due dates a bit confusing, I would never expect the average person to be fully confident with working out their lodgment due date based on the ATO's material.

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I have created a company tax deadline time-table below, in plain English.

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These dates are for tax returns relating to the 2012FY.

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When are most company tax returns due?

15 May the next year.

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If you run a company turning over less than $2m of revenue and have a tax accountant lodging for you, you will generally need to lodge by 15 of May the next year.

This may not be the case if you have an outstanding return from previous years or are a repeat late lodger.

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When are company tax returns due when there are returns outstanding from previous years?

31 October the same year.

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If you have outstanding returns from previous years or are a repeat late lodger who the ATO has notified, your due date will be 31 October of the same calendar year, so you will have 4 months to lodge your return after the end of the financial year.

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Tax return due date for companies with revenue above $10million

15 January the next year.

Although there are exceptions, generally bigger companies who earn over $10m are considered to have more resources and therefore don't get as long to lodge as smaller companies.

These companies have 6 and a half months to lodge their tax returns after the financial year ends.

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Tax return due date for companies with revenue between $2-10million

31 March the next year.

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If your company generates income of over $2m but below $10m you will not be considered a large/medium taxpayer, but you will still have to lodge your tax returns a bit earlier than most others - 8 Months after the end of June.

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If you are seeking tax advice for your company or other business entity do not hesitate to reach out to CTK Accounting, Wollongong based Certified Practising Accountants.

Email: admin@ctkaccounting.com.au

Website: ctkaccounting.com.au

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