Company Tax Return
Annual tax return for Australian companies, lodging income, deductions, franking account balance, dividend imputation and reconciling PAYG instalments paid.
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Who this applies to
- All Australian-resident companies
- Foreign companies with Australian-source income
- Public trading trusts taxed as companies
What to file
Company Tax Return form with profit & loss, balance sheet, reconciliation, franking account balance, R&D claim if applicable, and CGT schedules.
How to file
Via ATO Online Services for Business, or through a registered tax agent. Most companies use a tax agent for the additional time and expertise.
Payment due
Balance of company tax due same date as return. Quarterly PAYG instalments throughout the year reduce the year-end balance.
Penalties for missing this deadline
FTL penalty up to 5 units (A$1,650 default) per overdue document. GIC on unpaid tax (~11.36% pa). ATO can issue default assessments where returns are seriously overdue.
Filing checklist
- Finalise statutory accounts under AAS
- Reconcile accounting profit to taxable income
- Calculate base rate entity status (turnover < A$50m and ≤80% passive income)
- Apply correct rate (25% or 30%)
- Update franking account balance
- Lodge via tax agent or self-service
- Pay balance via BPAY
Common mistakes to avoid
- Misclassifying base rate entity status (passive income test)
- Forgetting to reconcile franking credits to dividends paid
- Missing R&D claim by not registering with AusIndustry first
- Treating Division 7A loans as dividends after balance date
Never miss a Australia deadline
AccountsOS tracks every Australian Taxation Office (ATO) and ASIC (Australian Securities and Investments Commission) deadline and reminds you weeks ahead.
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