When do you complete your taxes each financial year

just curious?

For me always to the wire/deadline for companies... why not??

 

Usually in the first week of the new financial year.

 

As late as possible unless I am due for a refund (which is rare)

 

I just leave it till march the next financial year,i have everything sorted ready but i'm in no hurry as I know I will have to pay tax..

 

Whenever my group certificate is available.
Usually do it around October.

 

No more tax returns, just a simple form for franking credits refund, while it lasts.

Always did taxes as soon as possible in the new financial year. Date of lodgement depended on whether we were getting a refund or had to pay.
Marg

 

usually around April...need to do everyone elses first

 

Usually Jan- Feb. Actually dropping it off this week. Used to be earlier when I was working as I got a refund.

 

Once I have gathered the necessary documentation for the accounting firm at which time discuss whether to lodge after the usual October deadline.

 

Review 3mths before end of current FY to ensure that all current thinking and processes are correct and nut out any improvements that need to be made before close of FY

Prepare and hand over to account before end of calendar year giving them time to go through, ask questions, find any missing items they require.

Lodge in March unless ATO owes us money then it's lodge in Jan.

 

I do a review 3 months before the end of the FY. It is too later after the end of the FY to know where your at. Then income and expenditure is timed to the most suitable FY year. Know whether to use carry and forward contracts for commodity trading. May take advantage of the $20k depreciation write off, I know how much to put in super, may do some renovations , may take out 3 year interest in advance loans with 100% LVR for deffered purchase plans for shares. Lease equipment, or decide to wait until the start of the next year and use a chattel mortage. Will know whether to liquidate some assets and whether it is ones the ones for a loss or ones for a profit. Stuff a Financial Planner wouldn't have a clue about ! I then do the last 3 months Tax in early August after all statement have been received.

 

I also do the same as Fargo. Do a trial claculation a few weeks before end of FY, and then take actions if necessary such as some repairs, share sale or whatever to optimise income/expenses between FYs. Return actually lodged September/October when everything is clear.

 

Forgot to mention - also work out the best super contribution to make before 30th June, giving enough time to actually make the deposit to the super account.

 

Do your taxes early! Knowing the outcome well in advance lets you plan with certainty.

Last minute panic stations means that mistakes are more likely to happen.

I get mine done in July - and I use an external accountant. I think everybody can benefit by having a good accountant and staying in control financially - and that includes me.

 

Do you need to register for this tax thing?

 

Mygov ATO website will say the date you must do your tax return by.

I get a refund each year, but I still don't care about doing it at tax time / geoup certificate issued.