As we head into the new financial year, it’s essential for businesses that employ staff to stay on top of key tax and reporting deadlines. Here’s your quick guide to managing Fringe Benefits Tax, PAYG withholding, Single Touch Payroll and Super Guarantee obligations in 2025.
1. Fringe Benefits Tax (FBT)
FBT year-end: 31 March 2025
Identify & value benefits: Review any benefits you’ve provided (e.g. cars, entertainment), calculate their taxable value and confirm whether you have an FBT liability.
Lodge & pay:
- Standard deadline: 21 May 2025
- Extended deadline (via registered tax agent): 25 June 2025
- Record-keeping: Maintain detailed records (logbooks, invoices, employee declarations) to substantiate your FBT position.
ATO focus: The ATO has flagged FBT as an audit priority this year. We’ll be in touch with some clients directly, but please reach out to your DGL file manager if you’d like to review your FBT readiness.
2. PAYG Withholding
Accurate withholding: Ensure you deduct the correct amount of tax from wages and other reportable payments (e.g. contractor fees, director’s fees).
Timely remittance: Pay all withheld amounts to the ATO by the due dates specified for your business (usually monthly or quarterly).
3. Single Touch Payroll (STP)
Finalisation date: 14 July 2025
All STP reports for the 2024/25 year must be finalised in your payroll system by this date (closely held payees may have a slightly later deadline).
Why it matters: Finalisation locks down your employees’ year-to-date totals for tax and super, ensuring accurate end-of-year reporting.
4. Super Guarantee (SG)
Quarterly due dates:
- 28 January 2025
- 28 April 2025
- 28 July 2025
- 28 October 2025
Current rate: 11.5% of ordinary time earnings
Upcoming increase: Rises to 12% from 1 July 2025
Penalty risk: Late or incomplete payments attract SG Charge—so confirm contributions are paid in full, on time, and to the correct fund.