As the end of the financial year has just past, the ATO is reminding employers that they should check what they need to do and take note of the following upcoming key dates.

Pay as you go (‘PAYG’) withholding — From 1 July 2025, some withholding schedules and tax tables will be updated (but not all).

Employers should use the correct tax tables or the ‘tax withheld calculator’ on the ATO’s website to work out how much to withhold from their employees’ payments. They should update their payroll software to withhold, report and pay the correct amount of tax.

Single touch payroll (‘STP’) reporting —Employers should complete an STP finalisation declaration by 14 July 2025, and also lodge a finalisation declaration for all employees they have paid and reported through STP, so they have the right information to lodge their income tax returns.

Employers should also ‘finalise’ all employees they have paid in the financial year, even those they have not paid for a while, such as terminated employees.

Finally, employers who change payroll software providers should finalise their records before they change, to ensure they and their employees have accurate information during tax time.

Editor: As noted above, employers also need to pay all SG contributions for the June 2025 quarter by 28 July 2025.

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