Streamline Management News
* This is generic info to give you a few pointers and should never be relied on as specific accounting advice.
Contact your expert (not your mates at a BBQ or the guy trying to sell you something) to discuss your situation.
Micro Small and Medium Enterprises Day
We’re celebrating ourselves, our clients and our ecosystem today!
Make a purchase with a small business and help them wrap up the financial year on a high. More than 95% of Australian businesses are classed as small, so there are plenty of opportunities to support a Micro/Small/Medium Enterprise today.
Did you know Micro Small and Medium Enterprises Day is a United Nationals global event?
This year the theme is ‘Enhancing the role of Micro-, Small and Medium-sized Enterprises (MSMEs) as drivers of Sustainable Growth and Innovation’
2025 EOFY payroll
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
Keep Calm on International Panic Day
End of Financial Year is approaching at full speed!
Keep Calm and work with your team of accounting experts to ensure a smooth ride.
We’ve stared down a heck of a lot of year ends and we’ve got our systems and checklists lined up to do it all over again. Let us know if you’d prefer to sit back with a cuppa and let us manage it for you.
2025 minimum wages increase
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.
Rollercoaster Week
Every single week is a rollercoaster when you are a small business owner. (Sometimes it feels more like a haunted railway!)
It takes a lot of energy to power a rollercoaster – up, down, loop de loop, corkscrew barrel rolls, dark tunnels and sharp unexpected turns.
So now that you are onboard, strap in! We’ll join you on the wild ride!
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!
Super is increasing from 1st July 2025
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!
DonutDay
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 2025 subscription updates
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?
2025 EOFY Super Contributions
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.
