October Tax Tip & Lodgement Dates

Managing Senior Accountant - Chesterton Accounting
Monthly tax tip:

Staff expenses and amenities are often a point of confusion for business owners when it comes to deductibility – so let’s look at what can actually be claimed and what is often accidentally claimed. Amenities for staff can include toiletries and hygiene expenses, water, food and drinks. These expenses are deductible but only to the extent that staff are using these items to continue their work activity. For example, toilet paper, handwash, tea, coffee and biscuits used by employees in an office throughout a working day are all deductible for the employer. Light refreshments can also be deductible if staff are eating them to continue work, e.g. snacks provided to staff for morning tea or sandwiches purchased in the evening for staff that are working overtime hours and continuing work after the meal has been eaten. If the food and drink is consumed outside of work hours when staff are no longer being paid then it is generally non-deductible and viewed as entertainment, e.g. drinks at the pub after work. This can be a very confusing area when working out the deductibility of expenses for staff and not only income tax needs to be consider but so too does fringe benefits tax and GST.

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Important Dates!

21 October:

  •       Lodge and pay September 2021 monthly business/instalment activity statement
  •       Pay annual PAYG instalment notice

28 October:

  • Lodge and pay quarter ending 30 September 2021 activity statement if lodging by paper
  • Make super guarantee contributions for quarter ending 30 September 2021 to funds by this date
  • Pay quarter ending 30 September 2021 instalment notice. Lodge the notice only if you vary the instalment amount
  • Lodge and pay annual activity statement for TFN withholding for closely held trusts where a trustee withheld amounts from payments to beneficiaries during 2021 financial year

31 October:

  • Final date to sign up with a tax agent to receive the lodgement concession for the 2021 tax return
  • Lodge 2021 tax return if lodging without a tax agent by this date

Lodge PAYG withholding annual report no ABN withholding

Managing Senior Accountant - Chesterton Accounting