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Hot Issues
Article archive
July - September 2024 archive
ABN: 34 649 360 378
Liability limited by a scheme approved under Professional Standards Legislation.
Lawrence Poletto, Principal of Poletto accounting is a Fellow of CPA Australia, holds a Bachelor of Commerce (JCU) and has over twenty years’ experience in Commercial and Public Practice.
With this experience, Lawrence can assist with all accounting and taxation needs to help clients start and grow their business. Lawrence deals with clients from all walks of life, working with diverse client base across a wide range of Industries. He builds strong trusted relationships and support clients in their times of need.
Lawrence can assist with all Tax and Accounting for small to medium business including assistance and guidance with setups, ongoing support including cloud-based accounting, budgeting, performance monitoring, support for loan applications and more.
Lawrence enjoys working with business owners who are seeking taxation, accounting, or business advice from a trusted professional. The more certainty he can provide his clients, the more they can focus on their business. Clients appreciate Lawrence’s professional and approachable manner.
At Poletto Accounting you will be one of only a limited group of equally important business clients and will always receive prompt, personal service.
We believe in Fixed price packages with easy payment option’s so you know exactly what you’ll be paying.
Contact Poletto Accounting to get a complimentary tax review, to see how we can help you and to get a second opinion on where you are with your business and taxes.
Poletto Accounting provides a full range of business accounting services for small to medium-sized businesses. We work collaboratively with business owners to meet your reporting requirements and regulatory payments and to help you achieve your financial and business goals.
We can assist through:
All clients are provided with an Annual Tax Planning Meeting opportunity.
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We can assist in setting up your new business, provide business advice and planning to give your Business its best chance of success. We can guide you on the following:
We offer Fast and easy setup for your new business.
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Need help with your cloud accounting and Bookkeeping system? Not sure which program is best for your business? We can assist with all your cloud accounting needs, whether its Xero or other software.
Poletto Accounting is a Certified Xero Silver partner and can assist with:
We can help give back time and resources you need to focus on growing and developing your business.
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Poletto Accounting believe clients deserve certainty around their accounting services.
Fixed Fee accounting gives you the reassurance of no nasty surprises during the year and a clear understanding of the service.
We won’t charge “on the clock” and you won’t receive unexpected Invoices.
We'll determine your requirements upfront so that you have certainty of cost.
We don’t charge for basic support, emails and phone calls.
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We will make sure your business/company meets all its obligations to ASIC (Australian Securities & Investments Commission).
We can assist with:
We offer a personalised service in relation to the establishment of structures for new and existing businesses.
This includes Trusts & Companies to provide suitable asset protection whilst having the best possible tax outcomes.
Each new business is different and your individual circumstances needs to be considered.
If you need advice or help with your decision about your business structure, reach out to arrange a consultation.
Contact Us21 January
Lodge and pay quarter 2, 2024–25 PAYG instalment activity statement for head companies of consolidated groups.
Lodge and pay December 2024 monthly business activity statement except for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
28 January
Make quarter 2, 2024–25 super guarantee contributions to funds by this date.
Note: Employers who do not pay minimum super contributions for quarter 2 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement by 28 February 2025.
31 January
Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 2, 2024–25.
Lodge tax return for taxable large and medium entities as per the latest year lodged (all entities other than individuals), unless required earlier.
Payment for large and medium entities with a 31 January due date is:
Note: You cannot assume a later date for lodgment on the basis that the taxpayer will be non-taxable in the current year. If you request a lodgment deferral, it will be escalated for manual assessment as an ATO assessed deferral.
Lodge tax return for the taxable head company of a consolidated group (including a new registrant) that has a member who has been deemed a large or medium entity in the latest year lodged, unless the return was required earlier. Payment was due 1 December 2024.
21 February
Lodge and pay December 2024 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
Lodge and pay January 2025 monthly business activity statement.
28 February
Lodge tax return for non-taxable large and medium entities as per the latest year lodged (except individuals).
Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
Lodge tax returns for new registrant (taxable and non-taxable) large or medium entities (except individuals).
Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
Lodge tax return for non-taxable head company of a consolidated group, including a new registrant, that has a member who has been deemed a large or medium entity in the latest year lodged.
Lodge tax return for any member of a consolidated group who exits the consolidated group for any period during the year of income.
Lodge tax return for large or medium new registrant (non-taxable) head company of a consolidated group.
Lodge and pay Self-managed superannuation fund annual return for new registrant (taxable and non-taxable) SMSF, unless they have been advised of a 31 October 2024 due date at finalisation of a review of the SMSF at registration.
Note: There are special arrangements for newly registered SMSFs that do not have to lodge a return – see Super lodgment.
Lodge and pay quarter 2, 2024–25 activity statement for all lodgment methods.
Pay quarter 2, 2024–25 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
Annual GST return – lodge (and pay if applicable) if the taxpayer does not have a tax return lodgment obligation.
Note: If the taxpayer does have a tax return obligation, this return must be lodged by the due date of the tax return.
Lodge and pay quarter 2, 2024–25 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.
Note: Employers lodging a Superannuation guarantee charge statement can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.
21 March
Lodge and pay February 2025 monthly business activity statement.
31 March
Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large and medium taxpayers), unless the return was due earlier.
Payment for companies and super funds in this category is also due by this date.
Lodge tax return for the head company of a consolidated group (excluding large and medium), with a member who had a total income in excess of $2 million in their latest year lodged, unless the return was due earlier.
Payment for companies in this category is also due by this date.
Lodge tax return for individuals and trusts whose latest return resulted in a tax liability of $20,000 or more, excluding large and medium trusts.
Payment for individuals and trusts in this category is due as advised on their notice of assessment.
21 April
Lodge and pay quarter 3, 2024–25 PAYG instalment activity statement for head companies of consolidated groups.
Lodge and pay March 2024 monthly business activity statement.
28 April
Lodge and pay quarter 3, 2024–25 activity statement if electing to receive and lodge by paper and not an active STP reporter.
Pay quarter 3, 2024–25 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
Make super guarantee contributions for quarter 3, 2024–25 to the funds by this date.
Note: Employers who do not pay minimum super contributions for quarter 3 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement by 28 May 2025.
30 April
Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2024–25.
Lodge lost members report for the period 1 July 2023 to 31 December 2024.
15 May
Lodge 2024 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups) and are not eligible for the 5 June concession.
Due date for companies and super funds to pay if required.
Note: Individuals and trusts in this category pay as advised on their notice of assessment.
21 May
Lodge and pay April 2025 monthly business activity statement.
Final date to add new FBT clients to your client list to ensure they receive the lodgment and payment concessions for their fringe benefits tax returns.
Lodge and pay Fringe benefits tax annual return if lodging by paper.
26 May
Lodge and pay eligible quarter 3, 2024–25 activity statements if you or your client have elected to receive and lodge electronically.
28 May
Lodge and pay quarter 3, 2024–25 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.
Note: Employers who lodge a Superannuation guarantee charge statement can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.
5 June
Lodge tax returns due for individuals and trusts with a lodgment due date of 15 May 2025 provided they also pay any liability due by this date.
Lodge tax return for companies and super funds with a lodgment due date of 15 May 2025 provided both the prior year and current year return will be non-taxable or result in a refund.
Note:
21 June
Lodge and pay May 2025 monthly business activity statement.
25 June
Lodge and pay 2025 Fringe benefits tax annual return for tax agents if lodging electronically.
30 June
Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2024–25 financial year.
If any of your clients receive Child Care Subsidy and Family Tax Benefit payments from Services Australia, the client and their partner must lodge their 2023–24 tax return by 30 June 2025, regardless of any deferrals in place. For more information see the Services Australia External Link website.
Please enjoy the links to these free tools supplied by MoneySmart - a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.
Secure File Transfer is a facility that allows the safe and secure exchange of confidential files or documents between you and us.
Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.
Login to Secure File Transfer, or contact us if you require a username and password.
Every effort has been made to offer the most current, correct and clearly expressed information possible within this site. Nonetheless, inadvertent errors can occur and applicable laws, rules and regulations may change.
The information contained in this site is general and is not intended to serve as advice. No warranty is given in relation to the accuracy or reliability of any information. Users should not act or fail to act on the basis of information contained herein. Users are encouraged to contact Poletto Accounting or their own Advisor for Advice concerning a specific matter before making any decision.
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Poletto Accounting is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.
We have adopted the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The NPPs govern the way in which we collect, use, disclose, store, secure and dispose of your Personal Information.
A copy of the Australian Privacy Principles may be obtained from the website of The Office of the Australian Information Commissioner at https://www.oaic.gov.au/.
Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect includes names, addresses, email addresses, phone and facsimile numbers.
This Personal Information is obtained in many ways including correspondence, by telephone and facsimile, by email, via our website www.polettoaccounting.com.au, from your website, from media and publications, from other publicly available sources, from cookies and from third parties. We don't guarantee website links or policy of authorised third parties.
We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing/marketing lists at any time by contacting us in writing.
When we collect Personal Information we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.
Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.
Sensitive information will be used by us only:
Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.
Your Personal Information may be disclosed in a number of circumstances including the following:
Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.
When your Personal Information is no longer needed for the purpose for which it was obtained, we will take reasonable steps to destroy or permanently de-identify your Personal Information. However, most of the Personal Information is or will be stored in client files which will be kept by us for a minimum of 7 years.
You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.
Poletto Accounting will not charge any fee for your access request, but may charge an administrative fee for providing a copy of your Personal Information.
In order to protect your Personal Information we may require identification from you before releasing the requested information.
It is an important to us that your Personal Information is up to date. We will take reasonable steps to make sure that your Personal Information is accurate, complete and up-to-date. If you find that the information we have is not up to date or is inaccurate, please advise us as soon as practicable so we can update our records and ensure we can continue to provide quality services to you.
This Policy may change from time to time and is available on our website.
If you have any queries or complaints about our Privacy Policy please contact us at:
