Home topics finance advice Image Credit: Towfiqu barbhuiya Accounting Advice Accounting Key dates for Australian SMEs to mark on their financial calendars in 2022 Yajush Gupta January 24, 2022 Keeping track of due dates can help in the smooth functioning of your business. We’ve put together a list of the most important financial dates for 2022, so you can plan for the year ahead and avoid any penalties for missing a deadline. Credit: business.gov.au End of the financial year (EOFY) The end of the fiscal year is a crucial time for small businesses. The fiscal year is 12 months used for tax purposes. The Australian fiscal year begins on July 1 and ends on June 30 of the following year. Small business owners close their books at the end of the fiscal year and begin finalising their tax time paperwork and accounting. Individuals and businesses submit their tax returns to the Australian Taxation Office (ATO) from July 1 to October 31. The ATO uses the information to determine how much tax they owe. Businesses 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 in the year ahead. What do I need to submit at EOFY? Most businesses will be required to file a tax return at the end of the fiscal year. A tax return summarises your income and expenses for the tax year. Business activity statements (BAS) A Business Activity Statement (or BAS)