End Of Financial Year timeline
What does the EOFY timeline look like?
You need to get your accounts up to date now and chat to your accountant about tax planning
Keep calm, its only End Of Financial Year!
11/06/2025
What does the EOFY timeline look like?
You need to get your accounts up to date now and chat to your accountant about tax planning
Keep calm, its only End Of Financial Year!
Superannuation paid on behalf of ALL employees (and some contractors) will increase to 12% for payments (bank transfer) on or after 1st July 2025 (regardless of period worked).
You may wish to review employment contracts.
Contracts with salary packages including super mean pay goes down as super goes up. And that could make you an unpopular boss!
Remember your first day being the boss in your own business?
Donut forget to celebrate how far you’ve come and what you’ve learned along the way.
Small business is hard – well done for all the progress you’ve made!
🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩🍩
ps – we’re available for elvensies
Xero is updating plan inclusions now and prices will increase on 1st July.
Ask us to help you review your plan to confirm you have the features you need. It’s easy to switch and you don’t need to commit to a long timeframe.
When was the last time you reviewed your prices?
To qualify for a tax deduction in the 2025 financial year, or if you are managing your super cap, cash needs to reach the superfund and they need to complete the paperwork by 30th June. Payments from Xero need to be authorised before Friday 20th June as superfunds muck around with the moolah for days or weeks.
The usual final deadline of 28th July still applies if you choose to not make an early payment.
Here we are at the end of the financial year already – don’t panic, but do get organised.
It’s now really easy to submit a claim for business trips in your own car.
You can create a mileage claim using the phone app or in the browser when you are back at your desk.
ReceiptBank/Dext has you covered – just like any other work related expenses.
Make sure you’ve lodged or authorised us to lodge on your behalf.
Payment is also due today – can’t pay in full? Make a payment plan.
Not ready yet? Stop mucking around and get your butt into gear!
Monthly lodgers need to submit their April IAS today.
Watch out for late lodgement fines – it could be up to $2,750!
Late lodgement may incur a fine ($330 – $1650) from the ATO
and will void any current payment plan and make it much harder to request a new plan.
Act now!
