Question: We intend to deregister a company with ASIC in Sep 21 but we require to lodge the final company tax return before the deregistration in Sep21. My questions are i. When we finalise the FY21 CTR, shall we tick "Yes" in FY21 CTR form to indicate it's a Final tax lodgement? ii. If item i is not a final tax return, is there anyway I can lodge the FY22 in Sep21? I can't see FY22 CTR form available for me to lodge before the due date. Please advise.
Answer:
If there are no transactions to lodged after 30 June 2021 then you may mark the form as Final Tax Return.
2020 Form will be added after 30 June 2022 when the ATO releases the form. I suggest you to use paper lodgement instead.
It is advisable to lodged all overdue and final taxation forms, including the following if required, before deregistration:
- tax returns
- activity statements
- fringe benefits tax returns
- taxable payments annual reports