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June 2024 Business Calendar: Key Dates and Compliance Tips for Australian Small Business Owners

June 2024 is upon us, marking the end of the financial year. For Australian small business owners, it's the last month for tax planning and taking any final actions to optimise your tax position. Remember 30 June this year is a Sunday, so some actions will need to be taken by Friday 28 June which will be the last business day before the end of the financial year.

June 2024 Business Dates with checklist

Navigating these crucial dates is essential for ensuring your business operations remain seamless and compliant. Here's your guide to the key dates for June 2024.


Key Dates for June 2024:


5th June - 2023 Tax Return Extended Due Date through Tax Agent: If you haven't lodged your 2023 tax return yet, this is your final extended deadline. Ensure all documents are in order and submitted through your tax agent.

7th June - May Monthly Payroll Tax: For businesses registered for Payroll Tax, remember to submit your May wage information and make your payment by this date.

15th June - Make Employee/Personal Super Contributions for 2024 Year Tax Deduction: Ensure your super contributions are made early to take advantage of tax deductions for the 2024 financial year. With June being the busiest month for super contributions, leaving payments to the last minute risks missing the tax deduction, as processing times can be longer due to the increased volume of transactions.

21st June - May Monthly BAS/IAS: Your Business Activity Statement (BAS) or Instalment Activity Statement (IAS) for May is due. This is a critical checkpoint for managing your business's tax obligations.

25th June - 2024 Fringe Benefits Tax (FBT) Return (lodged with a Tax Agent): If you're lodging your FBT return through a tax agent, ensure it's submitted by this deadline.

30th June - Happy EOFY!! Make sure you have your vehicle odometer readings as at 30 June 2024: The end of the financial year is here! Don’t forget to record your odometer readings to ensure accurate reporting.

June Tips from HelloLedger:


🔍 EOFY Preparations: As the end of the financial year approaches, it's crucial to organise your financial documents and discuss strategies with your accountant to optimise your tax position. This is the last chance to take any tax planning actions that can benefit your business.


💼 Super Contributions: Making employee or personal super contributions before the 15th of June ensures you can claim a deduction for the 2024 financial year. Paying early to the funds ensures your payment clears and reaches each employee’s super fund by 30 June, which falls on a Sunday.


📊 Regular Compliance Checks: With multiple reporting deadlines this month, use this time to keep your compliance checks regular and thorough, preventing last-minute rushes and potential errors.


🚗 Odometer Readings: Don’t forget to record your vehicle’s odometer reading on the 30th of June. This will be necessary for accurate reporting of your vehicle expenses.


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 June a month of accomplishment, preparation, and strategic tax planning! 🌟📑🚗


Feel free to reach out to us for any assistance or advice you might need during this busy period.


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