Carey Group Quarterly Newsletter
Year-end financial deadlines you can't miss
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 by 28th January 2025 to avoid penalties. However, to claim a tax deduction for the 2024 financial year, ensure these payments are made before 31st December 2024.
Trustee Resolutions:
For SMSFs and other trusts, trustee resolutions for distributing income must be completed by 31st December 2024 to be compliant.
FBT (Fringe Benefits Tax) Reporting:
If you provide benefits to employees, ensure compliance with FBT reporting and that documentation is up to date before the end of the calendar year.
Personal Superannuation Contributions:
If you’re looking to make additional personal contributions to your super and claim a tax deduction for the 2024 financial year, contributions should be made before 31st December 2024.
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.
Contact Our Team
With over 70 years of combined experience, our team is ready to take on your financial matters with accuracy and focus. Contact us today.