As an employer, it’s important you keep on top of your payroll governance. This includes:
- using your tax and super software to record the amounts you pay
- withholding the right amount of tax
- calculating super guarantee (SG) correctly.
As 30 June gets closer, check your employer reporting obligations, along with any upcoming key dates, including for:
- Pay as you go (PAYG) withholding – From 1 July, the individual income tax rate thresholds and tax tables will change, which will impact your PAYG withholding for the 2025 tax year.
- SG rate change – From 1 July, the SG rate will increase to 11.5%. Make sure you pay your SG contributions by 28 July in full, on time and to the right fund.
- Single touch payroll (STP) reporting – Remember to make STP finalisation declarations by 14 July for all employees you've paid during the financial year. Make sure to:
- check your employees' year-to-date amounts are correct
- ensure your declaration is for the 2023–24 financial year.
If you realise you’ve made a mistake, fix your STP data as soon as possible and re-finalise.
Remember to use good record keeping practices and review your payroll policies and procedures to account for any changes that could impact your business.