Carey Group Quarterly Newsletter

Quarterly BAS (Business Activity Statement):

Due by 28th October 2024 for the July–September quarter. Lodging and paying on time will help avoid penalties.

Superannuation Guarantee Payments:

Ensure your employees’ superannuation guarantee contributions for the October–December quarter are paid and received by their superfunds before the 28th of January 2025 to avoid penalties. However, to claim a tax deduction for the 2024 financial year, ensure these payments are made and received by their superfunds before the 31st of December 2024. Late payments will incur penalties, and you will not be able to claim a tax deduction.

Trustee Resolutions:

Trustee resolutions for distributing income should already be in place for SMSFs and other trusts. Income must be distributed by the tax return lodgement date to ensure compliance.

Meeting these deadlines is essential to ensure compliance and maximise tax benefits as we close out 2024. Taking proactive steps now will ensure your business stays compliant and takes advantage of tax benefits, setting you up for a successful close to 2024 and a smooth start to 2025. Don’t leave these important tasks until the last minute—plan ahead and finish the year strong. By staying organised and informed, you can navigate the complexities of tax and compliance with confidence.