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Integrity, Innovation & Commitment

2nd Quarter 2022

Key Tax Dates

21 OCTOBER 2021

• Annual pay as you go (PAYG) instalment notice (Form N) – due date for payment. Lodgement is only required if you vary the instalment amount or use the rate method to calculate the instalment.

• September 2021 monthly activity statements - final date for lodgement and payment.

From November 2021, directors will need to verify their identity as part of a new director ID requirement. The Australian Business Registry Services (ABRS) is responsible for the implementation and administration of director ID. Australian Securities & Investments Commission (ASIC) will be responsible for the enforcement of associated offences.

The Federal Government has announced that it will:

• require recipients of the COVID-19 Disaster Payment to reapply each week following a state or territory reaching 70% fully vaccinated target.

• be tapering the amount of the COVID-19 Disaster Payment in the two weeks following a state or territory reaching the 80% fully vaccinated target. By the third week, the payment will cease.

It is now possible for taxpayers to re-contribute amounts that were withdrawn under the COVID-19 early release of super program without the contributions counting towards their non-concessional contributions cap. These contributions can be made between 1 July 2021 and 30 June 2030.

Let us advise you with your accounting and taxation needs!