How this usually works
At year‑end your books are finalised, year‑end adjustments are posted, and a company tax return (Form C) is prepared to reconcile taxable income. Your PAYG instalments paid through the year are credited, and the return confirms any balance payable or refundable.
A practical flow looks like this:
- Close and reconcile: bank, loans, payroll, super, GST, and intercompany balances.
- Year‑end adjustments: accruals, prepayments, depreciation, stock/WIP, bad debts, private use, entertainment, motor vehicle logbooks.
- Company‑specific checks: franking account, Division 7A loan minimum repayments, loss continuity testing, R&D and other schedules.
- Prepare and lodge: build financial statements and the Form C schedules, review, sign, and lodge with the ATO.
If you also need quarterly BAS, payroll processing, or bookkeeping catch‑up, keep that in scope so your return can be lodged accurately and on time.
Australian context to keep in view
- Rates: the company tax rate is generally 25% for base rate entities and 30% for others.
- Due dates: vary by size, history and whether you use a tax agent. Many agent‑lodged returns fall around 15 May; self‑prepared returns are often due earlier (commonly 28 February). Always confirm your ATO profile’s date.
- Lodgment channels: companies cannot use myTax. Lodge via a registered tax agent or SBR‑enabled software.
- PAYG instalments: BAS may include company instalments; the tax return performs the annual reconciliation.
- Common pitfalls: unrecorded Division 7A issues, missing franking account movements, incorrect GST classifications, and not documenting stock/WIP counts.
If your bookkeeping isn’t current, factor in cleanup work first. Accurate lodgment depends on clean books.
What to compare before you commit
Scope
Does the quote include year‑end journals, asset register updates, Division 7A review, franking account, financial statements and ATO lodgment of the company tax return?
Software fit
Confirm experience with your stack (e.g., Xero, MYOB, QuickBooks) and any add‑ons. Ask for the exact workflow for file sharing, queries and sign‑off.
Turnaround and communication
Agree on timelines, who chases outstanding info, how queries are handled during peak season, and how urgent issues are escalated.
Commercial fit
Understand pricing (fixed or hourly), what’s included/excluded, and whether you also need BAS, payroll, or advisory support through the year.
If you are weighing up a BAS agent vs accountant for this task: only a registered tax agent can lodge a company income tax return unless the BAS agent also holds tax agent registration.
Best next steps
Gather your records: bank feeds reconciled, payroll finalised, super cleared, invoices/bills up to date, asset purchases listed, and stock/WIP counts documented. Note any director/shareholder loans and intercompany transactions.
Decide whether you need compliance only (prepare and lodge) or ongoing help (BAS, payroll, management reports and tax planning). Then engage a provider that can explain the process and deadlines clearly.
If you are ready to move forward, outline your situation and we’ll help you reach the right support faster.
Frequently asked questions
What is a company tax return?
A company tax return (ATO Form C) is the annual filing a company lodges with the ATO to report income, deductions and offsets so the ATO can assess company income tax. It reconciles PAYG instalments against the final tax position.
Who must lodge and when is it due?
Australian resident companies must lodge even if they made a loss or had little activity. Due dates depend on your lodgment profile. Many agent‑lodged returns are due around 15 May following year‑end; self‑prepared returns are often due earlier (commonly 28 February). Check your exact ATO due date.
What records do I need?
Finalised accounts (P&L and balance sheet), reconciled bank/loans, payroll and super summaries, asset register and depreciation, stock/WIP counts, dividend/franking movements, prior year losses, R&D or other schedules, and details of any director/shareholder loans (Division 7A).
Can I lodge it myself?
You can lodge via SBR‑enabled software or use a registered tax agent. Companies cannot use myTax. A BAS agent cannot lodge a company income tax return unless they are also a registered tax agent.