Make sure you are recording staff leave to keep their balances up to date.
Employers need to tell employees their leave balances if they ask for it, or it can be displayed on payslips so your team can selfserve.
April – June super contributions must be received (by fund) by 28th July. This super is at the old rate of 11.5%.
Payments should be authorised right now as it takes longer than you think for the super fund to receipt the money.
Late payments of superannuation are not tax deductible – and fines and interest will be applied.
Annual ‘STP Finalisation’ needs to be filed with the ATO by today. (This replaces providing Payment Summaries/Group Certificates to your staff.)
Your team will not receive any documentation from you, they will be able to access details in their MyGov account once the finalisation has been completed – it may take an extra day or two to work through the system.
Its not a picnic if you are doing it properly.
Don’t forget you are making a legal declaration to the tax office on behalf of your staff – it needs to be right. Near enough is not good enough.
Once you’ve confirmed the data is correct – it goes straight to the tax office, your staff don’t receive paperwork from you.
Ask us to step in if you’d rather take your bear out for a picnic!
Any remaining April – June super contributions must be received (by fund) by 28th July, regardless if you pay monthly or quarterly. If you have any concerns about being able to make this payment on time, please contact us now so we can discuss options.Severe penalties will apply for late
Annual ‘STP Finalisation’ needs to be filed with the ATO by 14th July. (This replaces providing Payment Summaries/Group Certificates to your staff.)
Your team will not receive any documentation from you, they will be able to access details in their MyGov account once the finalisation has been completed.
We will reconcile payroll accounts and prepare STP Finalisation report for authorisation to lodge with the ATO in early July for all of our clients.
Keep calm – its only EOFY
From 1 July 2025, the National Minimum Wage will increase by 3.5%. This means the National Minimum Wage will be: $948 per week, or $24.95 per hour.
Unfortunately you can’t set up or review the new award rates yet, they are usually only available just in time for payday.
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!
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.
Do you provide perks to your team?
You probably need to submit an FBT return in the next couple of weeks.
No idea what could be captured? Speak to your tax accountant ASAP – gym membership, tickets to the footy, fancy meals, company car used for personal trips can all be captured.
Avoid fines and penalties – review your situation, ask your accountant – act now!
