If you worked in any of these countries, you could be due a Tax Refund

When is my Australian tax return due?

Key Dates for 2019 Australian Tax Year

 

Let's face it. Tax is confusing!

It's hard enough to get a handle on the tax system in your own country. And then, when you move to Australia for your working holiday, you have to come to terms with the Aussie tax system too!

But don't worry, we're here to help!

In this blog, we'll take a look at the basics of the Australian fiscal year and outline some of the most significant dates and deadlines during the tax year.

 

Here are the most important Australian tax dates that every backpacker should know.

 

When is tax season in Australia?

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Tax season in Australia's runs from the 1 July – 31 October for individuals (businesses have to submit monthly and quarterly activity statements all year round).

 

5 May 2019

If you're an individual and used a registered tax agent to help lodge your annual tax return for the fiscal year 2018 (1 July 2017 – 30 June 2018), this is typically the deadline they will adhere to for the submission of your return. This isn't something you really need to concern yourself with, as hopefully the agents will take care of it for you.

 

30 June 2019

Official end of the 2019 fiscal year.

 

1 July 2019

The official beginning of the 2020 fiscal year. After the financial year ends, you have until the 31 October to lodge your tax return for that year (the tax year beginning 1 July 2018 and ending 30 June 2019).

Note: You'll have until 31 October 2019 unless you use a registered tax agent for assistance, in which case the deadline falls later. This is provided you are on the Tax Agent's records before 31 October.

 

1 July 2019

The Australian Taxation Office begins to process tax returns from the fiscal year just ended.

 

14 July 2019

You should receive an annual Pay As You Go payment summary from your employer on this date. A similar summary is issued to the tax office a month after this, so make sure you receive this and check everything is in order. Employers are obliged to disclose employees PAYG information to the ATO no later than 14 August. This means that any missing payment summaries should be available after that date as information with ATO.

 

16 July 2019

The estimated date for the issue of rebates from the previous fiscal year. The timing can differ slightly from year-to-year, but refunds are typically issued 2-3 days around this date. 

 

31 October 2019

Deadline for lodging your tax return for the fiscal year 1 July 2018 – 30 June 2019. If you use a Registered Tax Agent like us for help, the deadline is usually later, but you'll still need to consult with them before the 2nd to avoid penalties. Alternatively, you can apply for an extension – Remember that it's better to lodge a complete, delayed tax return than an incomplete one on time.

 

The average tax refund Down Under is AU$2600

Get yours today

 

What are the Australian Tax Dates for Businesses?

 

The most important tax dates for businesses in Australia are listed below.

 

15 January 2019

The due date for income tax returns for companies, trusts and businesses whose taxable annual income exceeded $10 million in the previous fiscal year. Some companies may be advised to submit returns earlier if they have a history of failing to lodge tax returns on time in previous years (in which case, the recommended lodge date would have been October 31 2018).

 

21 January 2019

The first deadline for monthly PAYG activity statements falling in 2018. As the Australian tax system runs on a Pay As You Go basis where tax is automatically deducted, it's necessary for your employer to lodge monthly activity statements on the 21st of every month. These relate to the withholding of income at source for tax and superannuation (retirement fund) reasons. This is only something you need to worry about if you're an employer and have PAYG withholding responsibilities.

Each activity statement is a month in arrears, so for the 21 January 2019 the report would be lodged for tax activities between then and the 21 December 2018. Find out more about the PAYG system by clicking here.

 

28 February 2019

Deadline for businesses to make certain lodgings and payments relating to the December quarter of the fiscal year, for example Goods and Services Tax (GST).

 

28 April 2019

Deadline for businesses to make certain lodgings and payments relating to the March quarter of the fiscal year.

 

28 July 2019

Deadline for businesses to make certain lodgings and payments relating to the June quarter of the fiscal year.

 

14 August 2019

The deadline for businesses to submit an annual summary of PAYG withholding, detailing all payments made to employees/additional payees and the total amounts withheld from wages and salaries.

 

28 October 2019

Deadline for businesses to make certain lodgings and payments relating to the September quarter of the fiscal year.

 

21 December 2019

Deadline for your employer to submit the November PAYG activity statement for their payees, and the final tax date for 2018.

 

Tax deadlines can sometimes be confusing. Hopefully this list has given you a better idea of the taxation timeline as it runs in Australia.

If you have any Australian tax questions or you need any further information, contact our Australian tax team today!

 

The average tax refund Down Under is AU$2600

GET YOURS TODAY

About The Author

Mark Corcoran - Digital Content Executive @ Taxback.com

Mark is the Digital Content Executive at Taxback.com. Since graduating from Griffith College Dublin with a degree in Journalism and Visual Media, his work has been published both in print and online.

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