New Calculations

CGT – Cryptocurrency

This new calculation has also been added in response to a user request.  We are happy to consider any request for new calculations providing they will have broad appeal to our user base.  

Calculate the profit or loss and capital gain or loss on multiple disposals of cryptocurrency.  Enter unlimited purchases for each sale and select which parcels to sell based on the desired outcome.  Calculate the quantity and cost base of the remaining currencies where there was a partial disposal.

Calculations/2020

Coronavirus Links

ATO Website

  1. COVID-19
  2. Accelerated Depreciation
  3. Boosting Cashflow for Employers
  4. Early Release of Super
  5. JobKeeper Payment
  6. JobKeeper Key Dates
  7. Tax Treatment of Government Grants & Payments

Treasury Website

  1. Home Page
  2. Supporting Individuals & Households
  3. Support for Businesses
  4. Supporting the Flow of Credit
  5. JobKeeper Payment FAQs

Other

  1. JobKeeper Payment Legislation
  2. JobKeeper Payment Explanatory Statement

Featured Calculations

Capital Gains Tax – Property

Calculate or estimate the capital gain/(loss) on disposal of a property, including adjustments for periods of private use and/or business use of main residence. Calculate or estimate the capital gains tax payable.

Calculations/Year/CGT – Property

ATO Benchmarks

It will only take you a few minutes to run your client’s figures through this worksheet to check for potential problems with the return before lodgement. Calculations include expected expense ranges ($) based on client turnover and ATO ratios and expected turnover range ($) based on the relevant client expense for the key benchmark ratio. A covering letter to send with the report can be found in the Letters module.

Calculations/Year/Benchmarks

Practice Reminders

21 Nov 2020

Activity Statements

  • Lodge and pay October 2020 monthly business activity statement.
25 Nov 2020

Activity Statements

  • Lodge and pay quarter 1, 2020–21 activity statement if you lodge electronically.
28 Nov 2020

Superannuation Guarantee

  • Lodge and pay quarter 1, 2020–21 Superannuation guarantee charge statement - quarterly if the employer did not pay enough contributions on time.

    Employers lodging a Superannuation guarantee charge statement - quarterly 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.

    Note: The super guarantee charge is not tax deductible

    Use the Super guarantee charge statement and calculator tool on the ATO website to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.

1 Dec 2020

Pay Income Tax

  • Pay income tax for taxable large/medium taxpayers, companies and super funds. Lodgment of return is due 15 January 2021.
  • Pay income tax for the taxable head company of a consolidated group with a member deemed to be a large/medium taxpayer in the latest year lodged. Lodgment of return is due 15 January 2021.
  • Pay income tax for companies and super funds when lodgment of the tax return was due 31 October 2020.
21 Dec 2020

Activity Statements

  • Lodge and pay November 2020 monthly business activity statement.
15 Jan 2021

Income Tax Returns

  • Lodge tax return for taxable large/medium entities as per the latest year lodged (all entities other than individuals), unless required earlier.
  • Payment for large/medium entities with a 15 January due date is:
    • 1 December 2020 – for companies and super funds
    • For trusts – as stated on their notice of assessment.
      Note: You cannot request an agent assessed deferral from this date or assume a later date for lodgment on the basis that the taxpayer will be non-taxable in the current year.
  • 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/medium entity in the latest year lodged, unless the return was required earlier. Payment was due 1 December 2020.
21 Jan 2021

Activity Statements

  • Lodge and pay quarter 2, 2020–21 PAYG instalment activity statement for head companies of consolidated groups.
  • Lodge and pay December 2020 monthly business activity statement except for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
28 Jan 2021

Super Guarantee

  • Make quarter 2, 2020–21 super guarantee contributions to funds by this date.
    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 – quarterly (NAT 9599) by 28 February 2021.
    Note: The super guarantee charge is not tax deductible.
31 Jan 2021

TFN Report

  • Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 2, 2020–21.
21 Feb 2021

Activity Statements

  • Lodge and pay December 2020 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
  • Lodge and pay January 2021 monthly business activity statement.
28 Feb 2021

Income Tax Returns

  • Lodge tax return for non-taxable large/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/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/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/medium new registrant (non-taxable) head company of a consolidated group.
  • Lodge and pay Self-managed superannuation fund annual return (NAT 71226) for new registrant (taxable and non-taxable) SMSF, unless they have been advised of a 31 October 2020 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.
  •  

Activity Statements

  • Lodge and pay quarter 2, 2020–21 activity statement for all lodgment methods.
  • Pay quarter 2, 2020–21 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.
    If the taxpayer does have a tax return obligation, this return must be lodged by the due date of the tax return.

  •  

Super Guarantee

  • Lodge and pay quarter 2, 2020–21 Superannuation guarantee charge statement - quarterly if the employer did not pay enough contributions on time.
    Employers lodging a Superannuation guarantee charge statement - quarterly 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.

    Note: The super guarantee charge is not tax deductible.

    Use the ATO Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.

21 Mar 2021

Activity Statements

  • Lodge and pay February 2021 monthly business activity statement.
31 Mar 2021

Income Tax Returns

  • Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/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/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/medium trusts.
    Payment for individuals and trusts in this category is due as advised on their notice of assessment.

21 Apr 2021

Activity Statements

  • Lodge and pay quarter 3, 2020–21 PAYG instalment activity statement for head companies of consolidated groups.
  • Lodge and pay March 2021 monthly business activity statement.
  •  
28 Apr 2021

Activity Statements

  • Lodge and pay quarter 3, 2020–21 activity statement if electing to receive and lodge by paper and not an active STP reporter.
  • Pay quarter 3, 2020–21 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
  •  

Superannuation Guarantee

  • Make super guarantee contributions for quarter 3, 2020–21 to the funds by this date.
    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 – quarterly (NAT 9599) by 28 May 2021.

    Note: The super guarantee charge is not tax deductible.

30 Apr 2021

TFN Report

  • Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.

Lost Members Report

  • Lodge lost members report for the period 1 July 2020 to 31 December 2020.
15 May 2021

Income Tax Returns

  • Lodge 2020 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 2021

Activity Statements

  • Lodge and pay April 2021 monthly business activity statement.

Fringe Benefits Tax

  • 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 2021

Activity Statements

  • Lodge and pay eligible quarter 3, 2020–21 activity statements if you or your client have elected to receive and lodge electronically.

PAYG Withholding Variations

  • Request information for PAYG withholding variation applications for 2022 (letter available in “letters” module)
28 May 2021

Fringe Benefits Tax

  • Pay Fringe benefits tax annual return if lodging electronically.

Super Guarantee

  • Lodge and pay quarter 3, 2020–21 Superannuation guarantee charge statement - quarterly (NAT 9599) if the employer did not pay enough contributions on time.
    Employers who lodge a Superannuation guarantee charge statement - quarterly 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.

Note: The super guarantee charge is not tax deductible.

Use the ATO Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.

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