Looking beyond the festive season
In our experience, many Queensland businesses close or scale down to minimum staff for 1 - 2 weeks over the Christmas period giving business owners and key staff a well-deserved break. Some industries can even extend this out to a full month.
If your business is closing over this period, before you ‘switch off’ and unwind, it’s worth looking beyond the festive season to check you have plans to in place to address a few key due dates that will come around quickly once the doors re-open:
- 14 January 2016 – Payroll Tax Returns (December) are due (1 week extension granted) for lodgement and payment
- 15 January 2016 – Large Company Tax Returns are due for lodgement
- 21 January 2016 – Monthly Instalment Activity Statements / BAS due (no extension) for lodgement and payment
- 28 January 2016 – Quarterly Superannuation Guarantee Contributions must be paid to superannuation funds
- 7 February 2016 – Payroll Tax Returns (January) are due for lodgement and payment
- 28 February 2016 – December Quarterly BAS due for lodgement and payment
On a more positive note, New Year’s Resolutions should not just be a personal matter. Whilst the year’s activities and results are top of mind, make a record of what worked well, what didn’t and what could have been improved. You can also capture ideas worth exploring in the new year. Having this note to refer to will give you some momentum when you start your planning process in 2016.
If you find yourself with a little more time on your hands in the final days of the year you can draft some new business goals, update your business plan and re-forecast your budget to set your business up for a successful 2016. If you would like some assistance with any of the above, please contact your Hanrick Curran advisor who would be happy to help.
The team at Hanrick Curran wish you a safe and happy festive season and a successful New Year.
Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.