May 2024 is here, and for Australian small business owners, it means navigating a series of important dates that are crucial for tax, payroll, and reporting responsibilities.
As we step into this month, it's vital to be prepared and proactive to ensure your business operations remain seamless and compliant. Here's your HelloLedger guide to the key dates for May 2024.
Business Key Dates for April 2024:
7th May - April Monthly Payroll Tax: If your business is registered for Payroll Tax, remember to submit your April wage information and make your payment by this date.
12th May - Happy Mother’s Day: Take a moment to appreciate the mothers in your life and community. It's also a great opportunity to engage with your customers through special promotions and messages.
15th May - 2023 Tax Return (lodged with a Tax Agent): Today is the deadline for the lodgement of 2023 tax returns if you're using a tax agent. Ensure your documents are in order and submitted on time.
15th May - 2024 FY STP Finalisation for Small Employers with Only Closely Held Payees: Ensure that your Single Touch Payroll reporting for closely held payees is finalised by today.
21st May - April Monthly BAS/IAS: Your Business Activity Statement (BAS) or Instalment Activity Statement (IAS) for April is due. This is a critical checkpoint for managing your business's tax obligations.
26th May - March Quarter BAS (lodged with a Tax Agent): If you're lodging quarterly, ensure that your March Quarter BAS is submitted through your tax agent by this deadline.
May Tips from HelloLedger:
🌼 Pre-Winter Review: As cooler weather approaches, it's a good time to review your business's operational and financial readiness for winter. Consider energy-saving measures and stock necessities.
💼 End of Financial Year Preparations: Begin preparations for the end of the financial year. Organise your financial documents and start discussing strategies with your accountant to optimise your tax position.
📊 Regular Compliance Checks: With multiple reporting deadlines this month, use it as a reminder to keep your compliance checks regular and thorough, preventing last-minute rushes and potential errors.
🌱 Engage Your Community: Mother’s Day and the change of season provide excellent opportunities to connect with your community through themed events or promotions.
At HelloLedger, we're committed to helping you manage these dates with ease and confidence. By staying on top of these responsibilities, you're not just keeping your business compliant; you're setting it up for continued success and growth. Let's make May a month of progress and preparation! 🌟📑🍂
Feel free to reach out to us for any assistance or advice you might need during this busy period.
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