loader image

Home > Blog > 2023 Year-End due dates and ATO areas of focus

2023 Year-End due dates and ATO areas of focus

Date: 21 June 2023

If you employ staff in your business

  • Please complete the ‘EOFY Finalisation’ process in your payroll software (MYOB, XERO, other) by 14/07/23 and lodge this information with the ATO. This replaces the previous process of handing employees their Group Certificates.
  • Super guarantee contribution payments for the April-June quarter are due by 28/07/23.

Contractors & Subcontractors

  • Businesses in the following industries who make payments to contractors need to report these payments and lodge a Taxable Payments annual report (TPAR) by 28th Aug 2023.
    • Building & Construction
    • Cleaning Services
    • Road freight & Courier Services
    • IT
    • Security, Investigation, or surveillance

Superannuation guarantee changes from 1 July 2023

  • The mandatory superannuation guarantee rate increases from 10.5% to 11% from 1 July 2023.

ATO focus for 2023 income tax returns

  • Work-related expenses, rental property deductions, private use of business assets, and cryptocurrency are all in the spotlight.
  • Making use of the new fixed rate $0.67/hr for working from home expenses.

ATO focus for 2024 income tax returns

  • There will be increased data matching for the sharing economy, meaning the ATO will have more information regarding your income from Airbnb, Uber, and other online hire platforms. It is recommended to have the right systems in place to record income and expenses and save the tax receipts.

Start today

To get in touch with our team, start by emailing us at enquiries@rm.net.au

Know More

Firearms – Deceased Estates (NSW)

Firearms – Deceased Estates (NSW)

When a registered firearms owner has died, their executor (or administrator) should notify the Firearms Registry of the death as soon as practicable. The Firearms Registry will arrange for NSW Police to complete a safe storage inspection of the firearms. At this time,...

read more
Federal Budget 2024: Super & Retirement Planning

Federal Budget 2024: Super & Retirement Planning

Federal Budget 2024 – Impacts on Superannuation and Retirement Planning The Budget was a fairly low-key affair with respect to super this year, but a few things are worthy of note: Super on Paid Parental Leave Having said that the announcement that the Government will...

read more
Karen Lanz Dominates Advanced Tax Course with Top Mark

Karen Lanz Dominates Advanced Tax Course with Top Mark

Karen Lanz, our Senior Accountant based in our Glen Innes office, has recently attained the highest score in an Advanced Tax Course. Congratulations, Karen, on this outstanding accomplishment! We had the opportunity to interview her to gain insight into her success...

read more