Payroll Updates (1st July 2025)
As we get closer to 30 June, I wanted to make sure you were aware of a few payroll updates that may impact you.
Here’s what you need to know:
Super Payments – June Quarter If you would like to claim a tax deduction for your June 2025 quarter super payments in this financial year, make sure they’re paid by Thursday, 20 June at the latest.
This will give the super funds enough time to process the payments before 30 June. Anything paid after that will count as a deduction in next year’s return instead.
STP Finalisation Once you’ve processed your final June pay run, we will need to finalise your Single Touch Payroll (STP) reporting with the ATO.
If we handle your payroll, we’ll take care of this for you automatically.
If you manage it yourself, the due date is 14 July 2025. If you need any help with this or would like us to finalise this for you – please let us know. Hannah will be happy to assist.
Minimum Wage & Award Rate Increases From the first full pay period after 1 July 2025, the national minimum wage and award rates will increase by 3.5%. This applies across most industries. If you have team members on award wages, you’ll need to update their pay rates in your payroll system to stay compliant. Again, if you need help with this – Hannah is your best contact.
If you’re not sure which awards apply to your team, the Fair Work Ombudsman website will be updated closer to the date.
Updated Tax Tables from 1 July From 1 July 2025, the new personal income tax rates come into effect. This means your employees will receive a little bit more in their take-home pay.
What this means for you is that:
Payroll amounts each pay run will increase slightly (as less tax is withheld from wages). Your software package should automatically update this for you in their system, but if you have manually changed any tax withholding rates it would be worth checking this.
· The PAYG withholding on we declare and pay in your BAS will decrease as the team will have received this as additional take-home pay.
As always, if anything here raises questions or you’d like help reviewing your payroll setup before the changes kick in, please let us know.