What date is EOFY?
June 30
While the official end of financial year date is June 30, the EOFY sales season typically begins from June 1, and many retailers even begin advertising EOFY discounts towards the end of May.
What is the tax year in Australia?
The Australian income year for tax purposes consists of the 12-month period from 1 July to 30 June.
What is a financial year in Australia?
The financial year is a time period of 12 months used for tax purposes. The Australian financial year starts on 1 July and ends the next year on 30 June. At the end of fiscal year small business owners wrap up their books and begin finalising their tax time paperwork and accounting.
What is a tax year in Australia?
What date is end of financial year 2021?
June 30 – End of financial year.
What is financial year end?
The last day of the financial year falls on 30 June each year. You’ll need to complete bookkeeping, tax returns and plan for the new financial year. Learn how to prepare for the EOFY to get your business organised and work smarter in the year ahead.
What week of the financial year are we in Australia?
Celebrating the 21st Financial Planning Week in Australia from 4 – 9 October 2021, joining forces with global celebrations of World Financial Planning Day on Wednesday 6 October and World Investor Week from 4 – 9 October.
When can I submit my tax return 2022 Australia?
July 1, 2022
When to file your tax return. Officially, the new financial year starts on July 1, 2022, which is technically the first day you can lodge your tax return. However, it’s not necessarily the best time to do it. The Australian Taxation Office (ATO) has warned Aussies against lodging their return too early.
What is the Australian financial year?
When does the financial year start and end in Australia?
For Australians, the financial year ends on 30 June, with the next financial year beginning on 1 July. From 1 July through to 31 October both individuals and businesses are required to submit a tax return form to the Australian Taxation Office (ATO).
What is end of financial year?
What is end of financial year? The financial year is a time period of 12 months used for tax purposes. The Australian financial year starts on 1 July and ends the next year on 30 June. At the end of fiscal year small business owners wrap up their books and begin finalising their tax time paperwork and accounting.
What is a financial year and why is it important?
A financial year essentially refers to a 12-month accounting period. Individuals and companies generally use this 12-month annual report for bookkeeping and tax purposes. July 1 officially marks the start date for submitting income tax returns for the previous fiscal year (2019-20), though the deadline runs until October 31.
How do I prepare for the end of the financial year?
The end of the financial year (EOFY) is an important time for your business. You’ll need to complete bookkeeping, tax returns and plan for the new financial year. Use this checklist to prepare, get your business organised and work smarter in the year ahead. Make sure you know the important financial dates. Learn how to lodge and pay tax.