Financial year calendar and the countdown to tax time

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A lot of things need to happen between the end of financial year (EOFY) and tax time. About 95% of businesses lodge through a tax agent, which means you have some extra time on your side. Here are the work-on dates and deadlines to keep in mind when getting tax ready.

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Key dates in June

30 June is EOFY. All new transactions from 1 July go into your FY21 books.  The next month of your EOFY calendar will focus on closing out Q4 obligations.

30 June is EOFY. All new transactions from 1 July go into your FY21 books. The next month of your EOFY calendar will focus on closing out Q4 obligations.

 


Key dates in July

With your Q4 reports squared away in July, your EOFY calendar will now shift focus to annual reporting. That means getting things ready for your accountant.

With your Q4 reports squared away in July, your EOFY calendar will now shift focus to annual reporting. That means getting things ready for your tax agent.

 


August

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Ensure your FY20 books show every transaction.
Make copies of every receipt and invoice ready to give to your tax agent.


September

september

It's a good idea to get your books and documentation tidy before involving a professional. Otherwise they'll need to spend heaps of extra time on your accounts, and EOFY could end up being costly.

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You get extra time (and way less stress) if you use a tax agent. Find one in our advisor directory.

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October

October
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Hand off your books to your tax agent, who will:

  • check for mistakes
  • run a profit-and-loss report and balance sheet 
  • work on your tax return

May 2021

May 2021

15 May 2021 is the deadline for your tax agent to lodge your return.

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