When Are Taxes Due in Australia? Key Deadlines to Know

The Australian tax system operates on a financial year that runs from July 1 to June 30. Missing due dates can lead to financial penalties and interest charges.

Key Tax Deadlines for Individuals

For most individual taxpayers who prepare their own returns, the standard deadline for lodging income tax returns is October 31. Individuals who engage a registered tax agent benefit from extended lodgment deadlines. To qualify for these extensions, taxpayers must be registered on their agent’s client list before the standard October 31 deadline, which can allow for lodgment as late as May 15 of the following year.

Employees receive Pay As You Go (PAYG) income statements, which detail their earnings and tax withheld. This information is pre-filled by the ATO into online tax returns by late July. Tax returns can be lodged from July 1.

Key Tax Deadlines for Businesses

Businesses in Australia have tax obligations, with Business Activity Statements (BAS) typically covering Goods and Services Tax (GST), Pay As You Go (PAYG) instalments, and PAYG withholding. These statements can be lodged and paid monthly, quarterly, or annually.

Monthly BAS are generally due on the 21st day of the following month, while quarterly BAS are due on the 28th day of the month following the end of each quarter (e.g., October 28 for the July-September quarter, January 28 for October-December). Annual BAS due dates vary, aligning with the financial year. Company income tax returns have a standard due date of February 28 for small companies, but this can be extended if lodged through a registered tax agent.

Employers are also required to make Superannuation Guarantee (SG) contributions for eligible employees. These contributions must be paid to the employee’s superannuation fund at least quarterly. The quarterly due dates are October 28, January 28, April 28, and July 28, corresponding to the preceding quarters.

Understanding Lodgment Options and Tax Periods

The Australian financial year, running from July 1 to June 30, forms the basis for most tax calculations for both individuals and businesses. This standardized period helps in organizing financial records and reporting tax obligations to the Australian Taxation Office. Understanding this foundational tax period is essential for all taxpayers.

There are two main avenues for lodging tax documents: self-lodgment and using a registered tax agent. Self-lodgment allows individuals and sole traders to submit their tax returns directly to the ATO using online services like myGov. This method generally adheres to the standard October 31 deadline for individual income tax returns.

Engaging a registered tax agent provides access to extended lodgment deadlines for both individuals and businesses. To benefit from these extensions, taxpayers must ensure they are on their agent’s client list by the standard October 31 deadline for individuals. This extension can provide additional time, often until May 15 of the following year for individuals, allowing for more thorough preparation and accuracy.

Managing Tax Payments and Consequences of Non-Compliance

The Australian Taxation Office (ATO) provides various methods for taxpayers to manage their payments. Common payment options include BPAY, direct debit from a bank account or credit/debit card, and payments at Australia Post. Online services through myGov or the ATO’s business portal also facilitate direct payments.

If taxpayers face difficulties meeting a payment deadline, the ATO offers options like payment plans or deferrals. A payment plan allows for installments over an agreed period, typically weekly, fortnightly, or monthly, until the debt is cleared. Individuals or sole traders owing up to $200,000 can often set up a payment plan directly through their myGov account.

Failure to lodge tax returns or statements on time can result in penalties. The ATO may apply a “Failure to Lodge (FTL) on time” penalty, which is calculated based on penalty units for each period of 28 days the document is overdue, up to a maximum of five penalty units. For small entities, one penalty unit is applied, with higher multipliers for medium and large entities. For example, a penalty unit is currently $330, meaning a maximum penalty could reach $1,650 for individuals and small businesses.

Additionally, the ATO charges a General Interest Charge (GIC) on overdue tax liabilities. The GIC accrues daily on a compounding basis from the original due date until the payment is made. The GIC rate is reviewed and updated quarterly, reflecting a base government borrowing rate plus a margin. As of July 1, 2025, GIC incurred will no longer be tax-deductible.