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2021-06-17 22:01:47Small Business TaxEnglishIntuit QuickBooks is the best support you could ask for at tax-time. Get the ball rolling on our taxes with our handy checklist.https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2020/12/small-business-owner-accounting-costs-calculating-feature-qrc-au.jpghttps://quickbooks.intuit.com/au/resources/small-business-tax/tax-time-checklist/Make tax time less taxing with Intuit QuickBooks

Make tax time less taxing with Intuit QuickBooks

3 min read

Intuit QuickBooks is your best friend at tax time. We can:

  • Make tax admin super simple.
  • Organise your receipts and expenses from one place.
  • Automate key tasks like your organising and lodging your BAS and GST.

It’s that time of year again: 30 June is just around the corner

Ready for the 2020/2021 financial year to be done and dusted? You’re not alone. It’s been a tax year like no other, even if these difficult times have been tempered by generous government stimulus measures. But, with incentives such as JobKeeper now at and end, the road ahead is still uncertain.

Which is why having a great tax and accounting software partner like Intuit QuickBooks makes all the difference at the end of the financial year. Our intuitive tax and accounting software takes the grunt of 30 June, allowing small businesses and sole traders to focus on what they do best – running their business.

It’s also one of the most important tools accountants, bookkeepers and advisers can have at their fingertips to make this busy time of year run smoothly.

Four ways Intuit QuickBooks makes tax time less taxing

Intuit QuickBooks is the best support you can ask for at the end of the financial year. Here are four ways we make tax time as simple as possible.

  1. Claim your allowable deductions easily

Using Intuit QuickBooks Self Employed, you can easily photograph your receipts so they appear in your accounts instantly as a transaction. This makes it super simple to categorise your expenses as business or personal, so at tax time, you know exactly what you can claim as tax deductions.

  1. Track your goods and services tax (GST) automatically

Whether you lodge your GST monthly, quarterly or annually, Intuit QuickBooks allows you to automatically calculate your GST as you go, so when tax time comes, all you need to do is review it and approve it.

  1. Automate your Business Activity Statement (BAS)

Using Intuit QuickBooks means you can automatically create your BAS summary to review, then check and lodge it every time it’s due.

  1. Simplify lodgement with compliance software LodgeiT

When your tax return is complete and it’s ready to lodge, we make it as easy as possible with LodgeiT, which integrates seamlessly with Intuit QuickBooks.

All the important dates

Here are all the key dates you and your adviser need to remember as we head toward the end of this financial year and as we enter the new financial year.

DateI’m self-employedI’m a small business
21 JuneLodge your monthly BAS today[1]Lodge your monthly BAS today
30 JuneIt’s officially the end of financial year.

Get ready for tax time by organising your accounts to give to your accountant.

 

Super guarantee contributions (SGC) must be paid by this date to qualify for a tax deduction.

 

1 JulyHappy new financial year. You can lodge your personal income tax return any time between now and 31 October

 

Get ready to submit your tax return by inviting your accountant to view your Intuit QuickBooks account.

 

14 JulyYour Single Touch Payroll report must be lodged by your registered agentYour Single Touch Payroll report must be lodged by your registered agent
21 JulyLodge your monthly BAS todayLodge your monthly BAS today
28 JulyLodge your quarterly BAS todayLodge your quarterly BAS today

Your super guarantee payments need to be paid today.

Your STP payment must also be made today

14 AugustIt’s time to lodge your PAYG summary annual report
21 AugustLodge your monthly BAS todayLodge your monthly BAS today
21 SeptemberLodge your monthly BAS todayLodge your monthly BAS today
21 OctoberLodge your monthly BAS todayLodge your monthly BAS today
31 OctoberPersonal income tax returns should be lodged by todayIt’s time to lodge a number of different PAYG reports. Find out more here
28 JulyLodge your quarterly BAS todayLodge your quarterly BAS today

Your super guarantee payments need to be paid today.

Your STP payment must also be made today

21 NovemberLodge your monthly BAS todayLodge your monthly BAS today
21 DecemberLodge your monthly BAS todayLodge your monthly BAS today

Show tax time who’s boss, build the right plan for your business today.

Intuit QuickBooks is the preferred tax and accounting software partner for many leading Australian small businesses and sole traders and their advisers. Contact us today to find out more.

[1] All BAS lodgement dates for the 2021 financial year can be found here https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/Due-dates-for-lodging-and-paying-your-BAS/, as at 2/7/21

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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