Mark your calendar. The Australian Financial Year Runs from 1 July to 30 June.
The Australian financial year dates can easily be confused with the Australian tax season dates. The financial year always ends on 30 June.
It’s good to keep in mind that during the Australian tax season, you’ll report the income you earned throughout the financial year.
Still confused? Unsure of the dates? We’re here to help.
Financial Year & Tax Season Dates
Here’s what you’ll need to know…
2013-2014 Financial Year: 1 July, 2013 – 30 June, 2014
2014-2015 Financial Year: 1 July, 2014 – 30 June, 2015
2015-2016 Financial Year: 1 July, 2015 – 30 June, 2016
2016-2017 Financial Year: 1 July, 2016 – 30 June, 2017
Each year, tax season starts on 1 July and ends on 1 October. During that tax season you’ll report income earned during the financial year.
2014 Tax Season: 1 July, 2014 – 31 October, 2014
2015 Tax Season: 1 July, 2015 – 31 October, 2015
2016 Tax Season: 1 July, 2016 – 31 October, 2016
2017 Tax Season: 1 July, 2017 – 31 October, 2018
What Financial Year are We Currently In?
It’s currently the 2016-2017 financial year. In other words, the income you’re currently earning will be reported next tax season on your 2017 tax return.
When Does Tax Season End?
The tax season ends 31 October. That means, you have until 31 October 2016 to lodge a 2015-2016 tax return on time.
Earliest Date To Report Income Earned in 2016-2017 Financial Year? 2015-2016?
The 2015-2016 financial year has come to a close. It’s time to get your 2016 tax return lodged. If you want to be on the ATO’s good side, lodge before 31 October 2016!
Planning ahead? The 2016-2017 financial year ends 30 June 2017 and you’ll be able to lodge your 2017 tax return the following day on 1 July, 2017.
With E-Lodge you’ll be able to get a head start and begin preparing your tax return earlier in June. Remember to check back here to see when our tax gates will officially open for the season!
If you’re eager to lodge a 2017 tax return early, you’ll be able to do so if you fall within either of the following groups;
1) You are a foreign resident for tax purposes (an Australian nonresident) and you
- are leaving Australia permanently, and
- will no longer derive Australian-sourced income other than interest, dividends, and royalties
2) You are an Australian resident for tax purposes and you
- are leaving Australia
- will cease to be an Australian resident for tax purposes, and
- will no longer derive Australian-sourced income other than interest, dividends, and royalties.
Get your 2015-2016 Tax Return out of the Way Soon!
Still need to lodge that 2016 tax return? No worries; you still have time! With E-Lodge you can complete your return in as little as 10 minutes! Need to get caught up on late tax returns? You can also lodge a previous year tax return for financial years 2006-2015 with E-Lodge!
Updated 04 October 2016.Tags: eofy, financial year 2013-2014, financial year 2014-2015, financial year 2015-2016, financial year 2016-2017, tax 2014, tax 2016, tax return 2015, tax return 2016, tax return due date 2014