Everyone’s favourite time of year is once again fast approaching; I thought it prudent to remind all of our clients of timelines & statutory requirements to ensure that all clients files are up to date within these timeframes.
At Boox, we will be prioritising clients who have employees as the STP Finalisation is due 14/07/2025
As we are already in the 2nd week of June there a few things you may need to consider.
Have you consulted with your Accountant & decided on amounts & types of extra superannuation to be paid to Directors/Owners – Concessional/Non-Concessional?
Make sure to advise your bookkeeper of the decision so that lodgements can be completed & returned to you for payment.
Superannuation will have to be paid through your bank by Monday 23/06/2025 to ensure enough time is allowed for receipt of payment to the SUPER FUND, otherwise it may not be included as a tax deduction.
01/07/2025
- Superannuation guarantee rate is now 12%
- If you process your own payroll, most accounting packages should update automatically, but this should be checked before filing the first payroll of the new financial year with the ATO. If Boox processes your payroll, we will check this.
- If you have payroll, provide your bookkeeper with bank statements 01/04/25 – 30/06/25 for all bank accounts and credit cards.
- If statements are issued mid-month, provide bank downloads or printouts that include the running balance of the bank account to 30/06/25
- Ensure all expenses & payments to 30/06/25 are uploaded to your receipting program (DEXT/Hubdoc etc.) or input to your accounting software so that reconciliations can be completed.
- Payroll clients will be prioritized at this time as STP Finalisation is due.
- The Fair Work Commission has announced the National Minimum Wage will increase by 3.5% to $24.95 per hour or $948.00 per week (based on a 38-hour week)
- These increases will come into effect from the first full pay period on or after 1 July 2025.
14/07/2025
- STP Finalisation is now due
- For those without payroll, please start providing all records to ensure a smooth end of financial year reconciliation. National Employment Standards minimum wages increase – check your award for new rates& update payroll as necessary.
o You can use the PACT Pay calculator https://calculate.fairwork.gov.au/FindYourAward or
o Download the pay guide for your award
o If you are unsure of the award, please contact us. If we do your payroll, your pay rates will be updated before the first payroll is run for July 2025.
15/07/2025
- Employees can now access their year-to-date and end-of-year income statement online through myGov or talk to their registered tax agent.
- Employees need to wait until their income statement is ‘tax ready’ before lodging their tax return.
Have your employees check their personal details on MyGov and if necessary, update with both you and the ATO (incorrect personal details may prevent them from seeing their STP information)
28/07/2025
BAS for the period April-June 2025 is due for those that have NOT engaged a bookkeeper and are using the Business Online Portal
21/08/2025
IAS due for month of July 2025
25/08/2025
BAS due for the period April-June 2025 for those engaging a BAS agent
If you have any questions or are looking for assistance with getting your books up to date, we are here to help. Please contact us – sally@boox.com.au