How to master employer obligations in 2025
Taxpayers who employ staff should remember the following important dates and obligations:
Fringe benefits tax ('FBT')
31 March 2025 marks the end of the 2024/25 FBT year. Employers should remember the following regarding their FBT tax time obligations.
- They should identify if they have provided a fringe benefit. If they have, they should determine the taxable value to work out if they have an FBT liability.
- They should lodge an FBT return and pay any FBT owed by 21 May 2025. If their registered tax agent lodges electronically for them, they have until 25 June 2025.
- They should keep the right records to support their FBT position.
Pay as you go ('PAYG') withholding
Taxpayers need to withhold the right amount of tax from payments they make to their employees and other payees, and pay those amounts to the ATO.
Single touch payroll ('STP')
Employers should finalise their STP data by 14 July 2025 for the 2024/25 financial year (there may be a later due date for any closely held payees).
Super guarantee ('SG')
28 January, 28 April, 28 July and 28 October are the quarterly due dates for making SG payments;
The SG rate is currently 11.5% of an employee's ordinary time earnings. From 1 July 2025, it will increase to 12%.
Taxpayers should ensure SG for their eligible employees is paid in full, on time and to the right super fund, otherwise they will be liable for the SG charge.
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Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Brought to you by RGA Business and Tax Accountants. Liability Limited by a scheme approved under Professional Standards Legislation.
