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EOFY Deadlines – Your Time to Shine

ABN offers silver lining to EOFY busy period with some relief found in helpful resources to ease deadline overwhelm and encouragement toward a mindset shift.

As BAS Agents embark on the busiest time of their year, the Australian Bookkeepers Network (ABN) rallies behind members with encouragement and support to tackle looming End-Of-Financial-Year (EOFY) deadlines.

ABN Co-Director, Peter Thorp, points members to the resources the ABN makes available to help rise to EOFY challenges. In so doing, Pete explains this as a time which can be seen as the best opportunity to showcase our industry’s skills and expertise.

“EOFY is like our industry’s grand finale where we get to show off our skills to the two biggest referrers for our work, being our clients and tax agents,” said Peter. “It’s a great marketing opportunity.”

ABN members and non-members EOFY resources

“To support members to enjoy their deserved place in the spotlight, we encourage a look over our planning and organisation resources in our member portal,” continued Peter.

“The most used resources are our EOFY templates, alongside our EOFY Bookkeepers  Radio and Online Coffee Club episodes.”

Key deadlines in the months ahead

These are the mainstream reporting deadlines that are common across most industries. While there can be other niche deadlines at a federal and state level, depending on the industry, here are the typical deadlines the ABN recommends staying across:

30 June - Last date due for deductible superannuation contributions

30 June - Annualised salary contributions

14 July - Income statement finalisations

21 July - June Monthly Activity Statements

21 July - State Payroll Tax Annual Returns

28 July - June Quarter SG Contributions

31 July - State Portable Long Service Leave Returns

14 Aug - PAYG Withholding Annual Report (for some situations that sit outside STP2)

21 Aug - July Monthly Activity Statements

25 Aug - June Quarterly BAS - online lodgements

28 Aug - TPAR Annual Returns

28 Aug - State Workers Compensation Actual wages and estimates

21 Sept - August Monthly Activity Statements

30 Sept - STP finalisations - closely held entities.

Keep reputation in mind to flourish for the new year.

“Deadlines are super important for the reputation of the bookkeeper,” said Peter. “This time of year, can be overwhelming, but it's helpful to remember it’s a process to organise and work through. Do it well and your client wins, their accountant wins, and your reputation is enhanced.”

“There is support out there and with some preparation it can be a time of year to look on as an opportunity to shine and to firm up our client relationships for the new financial year.”

Watch the recording for the 2023-24 EOFY Bookkeepers Radio episode, available to members only. Not a member? Join as an ABN member today and get access to all Bookkeeper Radio recordings, as well as a range of other resources.

Category
ABN
Published
12 Jun 2024
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