Stepping into the new financial year:

The new financial year is here. 

EOFY may be done, but now’s the time to get your house in order and lay a solid foundation for FY2025–26. 

Here’s your action plan for August.

Update your super to 12 percent

From 1 July 2025, the super guarantee rate increased to 12 percent.

If you haven’t updated your payroll systems, you could be underpaying. That means fines. Check your settings and confirm that every employee’s super is being calculated at the new rate. 

Not sure how to do that? We can help.

August tax and super deadlines

14 August PAYG withholding summary report for large withholders and businesses without a registered agent.

21 August Lodge and pay your July monthly BAS.

25 August Lodge and pay your Q4 activity statement (if lodging electronically).

28 August Lodge and pay your Q4 super guarantee charge statement (if late on super payments). Lodge your Taxable Payments Annual Report (TPAR) if required.

Late? The ATO general interest charge is no longer tax deductible, so missed deadlines will sting even more. 

View ATO due dates.

Do you need to lodge a TPAR?

If you pay contractors, your business might need to lodge a Taxable payments annual report by 28 August.

This applies to industries like:

• Building and construction
• Cleaning
• Courier and freight
• IT services
• Security and surveillance

If you're unsure, ask us. We'll help you stay compliant.

Review your cash flow and plan ahead

A new financial year is the perfect time to look ahead.

• Check your cash flow: Are your payment terms working? Are you holding aside GST and BAS?
• Map out major expenses: Budget now for tax instalments, vehicle upgrades, insurance, and payroll tax.
• Build a buffer: Aim for 1–2 months of costs in reserve. Things go wrong, payments get delayed — be ready.

Revisit your business structure

Your structure might have made sense when you started, but is it still the right fit? The right structure can reduce tax, protect your assets, and plan for succession.

Sole trader, trust, company, or partnership — we’ll help you get it right.

Book your New Year check-in

We don’t just look backwards. At FTA, we help you Forward Think & Achieve.

Now’s the time to:

• Update super settings in your payroll software
• Plan and prepare for upcoming lodgements
• Check your cash flow and budget for the big stuff
• Review your business structure to suit your next chapter

Need a hand?

Book your check-in with the team today.

📞 07 5409 2300 ✉ info@ftaaccountants.com.au

🌐 ftaaccountants.com.au

References:

• Super guarantee changes: ato.gov.au
• ATO lodgement calendar: ato.gov.au
• TPAR requirements: ato.gov.au