I hope you all had a relaxing break.
I was lucky enough to get away for a week of camping & horse riding in the Snowy Mountains with 20 like minded friends, and then went on a mini break with my own horse Saddle up Valentine – he has to be the best holiday companion!
But enough of that and back to business. 2021 brings some changes to processes and deadlines you need to be aware of, as follows ……………
- If you normally pay tax in quarterly instalments you must log onto MYGOV to find how much you need to pay. If you have a Company or an SMSF you will need to log on to the ATO business portal. The ATO are no longer sending these forms for us to forward. The ATO should send you a text message to let you know that there is new instalment ready, however I did not receive mine, so it seems the system is somewhat flawed. We will chase late lodgers and payers after the due date each quarter. The December instalments and BAS have all been issued and are ready for you to action & pay by the 28th Feb. If you need help completing the forms, please get in touch. If we normally prepare your BAS, we will continue to do so and you can ignore this change.
- If you are hoping to receive the Jobkeeper payment for December, you need to declare your actual December turnover and estimated January turnover by the 28th Jan with the ATO. Declarations revert to the deadline of the 14th next month.
- For businesses, if your December 2020 quarter turnover is 30% down on the December 2019 quarter turnover you may be eligible for Jobkeeper for Jan, Feb and March. You will need to prepare and lodge your December BAS to determine this. If eligible, you need to let the ATO know by the 31st Jan and declare your employees. Even if you have not been eligible for Jobkeeper to this point, your business may be eligible now. Please call for further assistance if required.
- Although the BAS lodgment date is delayed to 28th Feb due to Xmas, employee super is still due and payable on the 28th January. This is the case even if you are your only employee.
That’s all for now
Lindsay 0413 952 180