Managing annual leave might feel tedious – but its vital for your small business.
Did any of your team take time off over the school holidays?
Let us know! We can take care of updating those leave requests and ensuring your employee records are compliant and crystal clear.
With Afternoon Tea Week approaching, we thought it would be the perfect excuse to get together.
How about we grab a cup of tea and a scone?
It’s a chance to just chat and catch up on whatever’s new – no need to discuss work, unless you want to!
We’d love to hear from you soon.
Super was due into your employees super funds by 28th July.
Your employee’s super contribution is only considered ‘paid’ on the date it’s received by the super fund. Not the date it’s received by the clearing house.
The expense is no longer tax deductible, super is calculated on all payments to employees (like overtime and allowances), fines are payable to the ATO, interest is payable to the fund for the employee, and directors will be personally chased for the payment.
If you’ve realised you haven’t made the payment on time, submit the statement ASAP to minimise the interest charges you’ll be liable for. Burying your head in the sand and hoping no-one notices could cost you a lot more down the line.
Need help to keep on top of all the deadlines? Ask us to give you a hand.
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.
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!
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.
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!
