COMPLIANCE – YOU CAN’T AFFORD TO GET IT WRONG!

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Meeting your Business Compliance requirements can sometimes be a challenge.

We know life is hectic and running a business on a day to day basis can often take priority over the many compliance obligations your business may have, but there are certain requirements by Law that need to be adhered to. 

We have listed below the standard annual requirements and due dates (where applicable) to assist you to meet your tax deadlines on time and avoid penalties:

  • Trust Distribution Minute - Trusts are required to prepare a Distribution Minute prior to the end of each Financial Year detailing who distributions are to be made to and the amount of the distribution (either a dollar value or a percentage).  A Dormant Trust is still required to prepare a Distribution Minute.

  • June 2018 Quarter BAS – This was due for lodgement and payment by 28 July, 2018.  If you haven’t yet attended to this, you should do so immediately.

  • TFN Report – It is a legal requirement of a closely held Trust to lodge a TFN report when any beneficiary details change (i.e. a new beneficiary exists or a change to an existing beneficiary is made).  We are currently in the process of preparing these and will distribute them shortly.

  • 2018 PAYG Payment Summaries – If you haven’t yet issued these to your employees or lodged these with the ATO, you should do so by 14 August, 2018.

  • July 2018 Monthly BAS – This is due for lodgement and payment by 21 August, 2018.

  • August 2018 Monthly BAS – This is due for lodgement and payment by 21 September, 2018.

  • 2018 Individual Income Tax Returns – If we lodge your 2018 Tax Return for you, in most cases the due date will be May 2019.  If the due date is earlier than this, we will contact you.

CFD are here to help you stay up to date with your compliance.  Please contact our office if we can assist you further.