When is my tax (return) due?

It is not possible to say when your tax return is due.  However I can make some general observations;

If you lodged your own individual tax return through mygov and on time last year then this year will be due most likely on the 31st October.

However if you register with a tax agent to do your tax this year  or used a registered tax agent last year and you have a good lodgement history your tax may be due as late as 15th May after the tax year end. Yes that’s 10 months after the end of the year.

Beware putting off doing your tax with a new small business or when there are big variations between income in one year and the next.  You may delay the bill but because you have lodged months after the year end your PAYG instalments may jump up and  may encounter cash flow issues having to pay a tax bill PLUS increased instalments for the current year at the same time.

Talk to us about budgeting and tax planning to avoid this problem.

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