As we roll into the 2025-2026 financial year, now’s the perfect time to check in, reset, and make sure you’re on top of key dates and changes that could impact your business.
Here’s a quick roundup of what’s happening from 1 July 2025—and what’s due soon after.
💵 Increases to employee wages and superannuation
Minimum Wage Increases by 3.5%
The Fair Work Commission has announced a 3.5% increase to the National Minimum Wage and minimum award wages.
It applies from the first full pay period starting on or after 1 July 2025. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 2 July 2025.
Read more – Minimum wages increase 3.5% from 1 July 2025 – Fair Work Ombudsman .
Super Guarantee Final Increase to 12%
From 1 July 2025, the superannuation guarantee (SG) rate increases to 12% — this is the final scheduled increase.
Make sure:
- Your payroll software is updated to reflect the new rate
- SG is paid in full, on time, and to the correct fund.
Next due date: 28 July 2025 (Q4 contributions for 2024–25).
🏥Workers Compensation Declaration of Wages
Workers Compensation requires vary by State, make sure have the appropriate level of cover in each State/Territory.
From 1 July, Queensland employers will receive WorkCover accident insurance renewals.
It’s important to be aware of who you must cover, and what payments you must declare as wages. For example, some contractors may need to be covered, and you must include superannuation and fringe benefits as wages. Learn more here: Policy renewal and declaring wages | WorkSafe.qld.gov.au
You’ll need to:
- Declare wages paid during 2024–25: Wage declarations due 31 August
- Pay your premium: Final premium payments due by 30 September
💰Taxable Payments Annual Report (TPAR) due (primarily) for building & construction industry businesses
Businesses who make payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR).
Contractors can include subcontractors, consultants and independent contractors. They can operate as sole traders (individuals), companies, partnerships or trusts.
This covers payments made to contractors or subcontractors for the following services: building and construction, cleaning, courier, road freight, IT, security, investigation or suveillance services.
When you receive invoices from new contractors or subcontractors make sure you:
- check that the ABN on the invoice matches the ABN on your record for that contractor [search the public register here: ABN Lookup ]
- ensure you create a new contractor record, if necessary
- check if your business software can prepare and lodge the TPAR.
Report the total payment amount if an invoice you receive from a contractor includes both labour and materials.
You must report by 28 August each year.
Learn more from the ATO here: Taxable payments annual report (TPAR) | Australian Taxation Office
📅 Key July Deadlines
14 July 2025: Single Touch Payroll (STP) finalisation due for most employers.
21 July 2025: Queensland Annual Payroll Tax Return must be lodged and paid (varies per State – check your obligations).
21 July 2025: Monthly Business Activity Statement (BAS) due.
28 July 2025: Quarterly PAYG Income Tax Instalments (for non-BAS taxpayers) due.
28 July 2025: Quarterly Superannuation Guarantee payments due.
📅 Upcoming August Deadlines
21 August 2025: Monthly Business Activity Statement (BAS) due for lodgement and payment.
25 August 2025: Quarterly Business Activity Statement (BAS) due.
28 August 2025: Taxable payments annual report (TPAR) due.
31 August 2025: WorkCover Annual Wage Declaration due.
ATO Interest No Longer Deductible
Last but not least… the ATO has confirmed that from 1 July 2025, interest charged on late payments or underpayments will no longer be tax deductible.
This change comes under the Treasury Laws Amendment (Tax Incentives and Integrity) Act 2025. It applies to any General Interest Charges (GIC) incurred on or after 1 July—even if the related debt is from an earlier year.
The ATO’s interest rate is over 11% and compounds daily. On top of that, the ATO is taking a more aggressive approach to debt collection, and we’ve found that payment arrangements are becoming more difficult to negotiate. Refinancing ATO debt with a commercial loan can lower costs, the interest may remain tax deductible, and help protect your cashflow and assets. Seek advice early before interest costs spiral further.
FInal Tip: Get organised and get ahead of the deadlines!
If you need help with anything listed here — or you’re unsure how these changes affect you — feel free to reach out.
Let’s keep the new financial year smooth and stress-free!
