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Do you know the tax significance of 15 May?

ABA Tech Talk

Do you know the tax significance of 15 May?

Over the next couple of days, either side this date, clients may ask you whether their tax returns have been lodged (yes, even though you’re not their Tax Agent).

To recap, on 15 May, 2017/2018 tax returns for all entities that did not have to lodge earlier are due.

However, this date may be extended to 5 June where the lodgement date is otherwise 15 May but both of the following criteria are met:

• The entity is non-taxable or a had credit assessment in latest year lodged

• The entity is non–taxable or receiving a credit assessment in the current year.

For advice on their particular lodgement date and status of various tax returns, refer the client to their Tax Agent.

Also ensure your personal lodgements (individual and entity) are up to date, as required by the Code of Conduct for tax practitioners (code item 2).

Category
ABA
Published
15 May 2019
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