Business
Company Tax
1 December: Payment due date for companies that were required to lodge by 31 October
31 October: 2021 Tax returns were due for lodgment for many individuals, companies & trusts. Contact me for assistance in lodging overdue returns & potentially avoiding ATO late fees & penalties.
1 July: Company tax rate decreased to 25% for base rate entities from 26%
Superannuation
28 October: September 2021 quarter Superannuation guarantee contributions were due for payment by this date. If the required superannuation payments were not paid by this date you maybe liable to the Superannuation Guarantee Charge, which is not tax deductible! Contact us for more information, guidance & assistance
Activity Statements
Payroll Tax
7 December: Lodge and pay monthly return
Payroll
1 July: Minimum wages to increase by 2.5% (to $772.60 per week or $20.33 per hour)
SMSF & Superannuation
Superannuation Guarantee
Concessional (Deductible) Superannuation Contribution Cap
1 July: Increase to $27,500, from $25,000
Non-Concessional (Not-Deductible) Superannuation Contribution Cap
1 July: Increase to $110,000, from $100,000
INDIVIDUALS
21 December: Lodge & pay November 2021 monthly activity statement
21 December: Lodge & pay December 2021 monthly & quarterly activity statements
1 July: Minimum wages to increase by 2.5% (to $772.60 per week or $20.33 per hour)
1 July: Superannuation guarantee contributions increase to 10%, from 9.5%. Will continue to increase by 0.5% each financial year up to 12% on 1 July 2025