If your inbox has gone quiet since 30 June and you have quietly filed tax season under “deal with later”, you are in good company. Every year I watch the same pattern play out across Newcastle and the Hunter. The financial year ends, everyone breathes a sigh of relief, and then tax gets pushed to the bottom of the pile until it becomes urgent again. Here is the thing though. The weeks right after EOFY are actually one of the best times to get your tax return and your business obligations properly sorted, and I want to explain why.
You have not missed the boat
A lot of people assume that if they have not lodged by 30 June, they are somehow behind. That is not how it works. The 30 June date marks the end of the financial year, not the deadline to lodge your return. If you lodge through a registered tax agent, like our team at TSP, you generally have well beyond the standard 31 October self-lodgement date, provided you are registered with us in time. That breathing room is exactly why now, rather than the frantic weeks before a deadline, is the smart time to come in and get things done properly.
Individual returns done right, not rushed
Whether your affairs are simple, a straightforward salary with a few work related deductions, or more involved with rental properties, share portfolios, or multiple income streams, getting your return done in July rather than October means we can take the time to make sure every deduction you are entitled to is captured. Rushed returns lodged in the final days before a deadline are where things get missed. A considered return lodged with a bit of breathing space is where value gets found.
Small business owners, this is your moment
If you run a small business in Newcastle or anywhere in the Hunter, July is when the real work begins. Your books need to be finalised, your Single Touch Payroll data needs to be squared away, and your business activity statements and annual return need attention. Coming to see us now, rather than waiting, means we can look at your full financial year with clear eyes, identify what worked, flag anything the Australian Taxation Office is likely to focus on, and start planning ahead for the year that has just begun rather than simply looking backwards.
Do not forget your superannuation guarantee obligations
This is the one that catches small business owners out every year. Your superannuation guarantee payment for the April to June quarter is due by 28 July, and this deadline does not move regardless of how busy you are or when your tax return is lodged. Missing it is expensive. If your super guarantee payment is late, even by a day, you cannot simply pay it and move on. You are required to lodge a superannuation guarantee charge statement with the ATO, the charge itself is calculated differently and is not tax deductible, and interest applies on top. It is one of the few areas of tax where being a little bit late costs a lot more than being a little bit organised.
We regularly help small business clients calculate exactly what is owed, confirm it has been paid to the correct fund for each employee, and get everything lodged correctly and on time. If you are not sure whether your figures are right, or you have simply been too flat out running the business to check, get in touch now while there is still time before the 28 July cut off.
Why talk to TSP
We have been trusted by individuals and small businesses across Newcastle and the Hunter Valley for 43 years, and while our roots are firmly here, we also work with clients across NSW and further afield, including trust account auditing for real estate agents and law firms and SMSF auditing for accounting firms outside our local area. Whatever your situation, our approach stays the same. Personal, straightforward advice from people who know your numbers and take the time to explain them.
EOFY might be behind us, but the opportunity to get your tax and superannuation obligations properly sorted, without the last minute panic, is very much still open. Reach out to our team today.
| Key date to remember Superannuation guarantee payments for the April to June quarter are due by 28 July. Late payments attract the superannuation guarantee charge, which is not tax deductible, plus interest. If you are unsure your figures are correct, contact TSP before the deadline. |
Frequently Asked Questions
It is after 30 June, have I missed my chance to lodge my tax return?
Not at all. 30 June marks the end of the financial year, not the lodgement deadline. Lodging through a registered tax agent generally gives you more time than the standard 31 October self-lodgement date, as long as you are registered with an agent before that date.
What is the actual deadline for my individual tax return this year?
If you are lodging yourself, the standard deadline is 31 October. If you are registered with TSP as your tax agent, you will usually have additional time under our lodgement program. We can confirm your specific deadline once we are engaged.
I run a small business, what should I be doing in July?
Finalise your Single Touch Payroll data, reconcile your accounts for the year just ended, and start gathering the information needed for your business tax return. This is also the ideal time to review how the year went and plan ahead.
When is my superannuation guarantee payment due for the last quarter?
The April to June quarter superannuation guarantee payment is due by 28 July. This applies to all eligible employees and the deadline does not shift, regardless of other lodgement timeframes.
What happens if I pay super late?
If a superannuation guarantee payment is late, you cannot simply pay the shortfall and move on. You are required to lodge a superannuation guarantee charge statement with the ATO, the charge is calculated on a different basis to normal super, it is not tax deductible, and interest applies.
Can TSP help even though I have not kept great records this year?
Yes. We work with clients at every stage of organisation, from tidy digital records through to a shoebox of receipts. Our job is to help you get on top of it, not to judge how it arrived on our desk.
Do you only work with businesses in Newcastle?
Our roots and our team are firmly based in Newcastle and the Hunter Valley, and that is where most of our clients are. That said, we also work with individuals and businesses across NSW and Australia more broadly, including specialist trust account auditing and SMSF auditing services for firms located elsewhere.
What is the benefit of using a registered tax agent instead of doing it myself?
A registered tax agent can identify deductions and obligations you might not be aware of, generally provides access to extended lodgement deadlines, and takes on the responsibility of making sure your return is accurate and compliant. It also means one less thing on your plate while you focus on running your business or your life. choose a block
With 30+ years of experience, David is a highly skilled tax and business advisor with expertise spanning primary production, transport, retail, medical, and professional industries. His broad knowledge allows him to provide practical, results-driven strategies for clients of all sizes.
David is a member of Chartered Accountants Australia and New Zealand and is also an ASIC-registered SMSF auditor. His commitment to helping businesses grow makes him a vital part of the TSP leadership team.
Qualifications & Expertise:
✅ Chartered Accountant (CA)
✅ SMSF Auditor & Registered Tax Agent
✅ Business & tax planning across multiple industries
📧 davida@tspaccountants.com.au |