June E News 2025

Welcome to our special End of Financial Year newsletter! As we bid farewell to the 2024/2025 financial year, this edition brings you essential insights on investment market performance, crucial updates on ATO interest charge deductibility, Super Guarantee changes, and TPAR obligations. Plus, discover opportunities for business growth with a free online workshop and find out what's happening in our vibrant Northern Rivers community.

As the books close on the 2024/2025 financial year, it's clear we've navigated a truly dynamic period for investors. From the shifting geopolitical landscape, amplified by the US presidential appointment, to the accelerating influence of AI and evolving interest rate cycles, the market has presented both significant challenges and compelling opportunities. In this special End of Financial Year review, we look back at the key market performances and the major economic forces that shaped the past 12 months, providing essential insights to help you confidently prepare for the fiscal year ahead.

Effective for income years starting on or after 1 July 2025, legislative amendments now prohibit income tax deductions for all ATO interest charges, including the general interest charge (GIC) and the shortfall interest charge (SIC), regardless of the income year the underlying tax liability relates to, meaning any GIC or SIC incurred from this date forward is non-deductible, and consequently, any later remission of such non-deductible interest will not be treated as assessable income, while GIC or SIC incurred before 1 July 2025 remains deductible in the 2024-25 and earlier income years, with any subsequent remission being treated as assessable income in the year of remission.

As we step into the new financial year, employers face two crucial Super Guarantee (SG) considerations: the 28 July deadline for your April-June quarter contributions and the SG rate increase to 12% effective from 1 July 2025. It's vital to ensure all eligible workers' super is paid in full, on time, and to the correct fund, remembering to factor in clearing house processing times. Critically, the new 12% rate applies to all salary and wages paid on or after 1 July, even if the pay period started earlier. Read on for key details to ensure compliance and avoid potential penalties.

Is Your Business Ready for TPAR? It’s crucial for many businesses to remember their obligations regarding the Taxable Payments Annual Report (TPAR). If your business operates in sectors such as building and construction, cleaning, courier and road freight, information technology, or security, investigation or surveillance, and you've paid contractors for these services, you may need to lodge a TPAR online by 28 August. This report helps the ATO ensure fair play across all businesses by tracking contractor income, and understanding your requirements now can help you avoid potential penalties later. Read on to discover if your business needs to lodge a TPAR and what information you'll need.

Whether you're nurturing a nascent idea or looking to refine an existing venture, launching and growing a business successfully requires meticulous planning and practical preparation.  You are invited to a free online workshop designed to equip you with essential strategies for analysing your business idea, planning at strategic, operational, and tactical levels, and tackling the practical steps needed for launch and sustained growth. Led by seasoned businessman and coach Geoff Silk, this valuable four-hour session on Thursday 24 July 2025, from 10:00 AM - 2:00 PM (AEST), will cover everything from feasibility checks and financial management to marketing and compliance, helping you navigate your business journey with confidence and minimise stress. Don't miss this opportunity to gain actionable insights and connect with like-minded entrepreneurs.

The Northern Rivers holds regular Community Events.  See what's on and keep up to date on all the fantastic opportunities available and help to support local.  There is plenty to do. 

A reminder, there are some important lodgement dates to note this month.

The WD Nicholls Team

FY2024/2025 Investment Market Review: Navigating a Year of Change and Opportunity

As the 2024/2025 financial year closes, it has definitely been more eventful of late given the appointment of Donald Trump as the US President. From disruptive technologies like artificial intelligence to shifting global trade relationships and interest rate cycles, investors have had much to digest. In this review, we look back at how key markets performed, examine the major economic forces at play, and share insights to help you prepare for the year ahead.

Global Economic Backdrop

The global economy entered FY24/25 still battling the aftershocks of inflation, tight monetary policy, and geopolitical volatility. Yet, resilience shone through. Many advanced economies managed to avoid recession, and inflation showed signs of moderation.

Key highlights included:

• Slowing but resilient global growth, particularly in the US and Japan.

• Geopolitical pressures, including renewed tariff disputes between the US and China and persistent military tensions abroad.

• A growing AI-driven transformation, pushing technology investment to new highs.

• Shifting energy dynamics, with a strong push toward renewables and critical minerals, alongside continued reliance on fossil fuels for transition stability.

Interest rates remained elevated but stable across most major economies, laying the groundwork for possible cuts in late 2025. Market sentiment improved toward year-end, particularly as inflation showed signs of cooling.

Sharemarket Review FY2024/2025: A Year of Divergence and Rotation

Australian Share Market (ASX 200): Modest Gains in a Maturing Cycle

The Australian share market delivered a moderate return of approximately 12-13% over the financial year, reflecting cautious optimism in a volatile global environment. The ASX 200 was buoyed by mining and financials but weighed down by consumer and discretionary sectors.

Key Drivers:

• Mining & Resources: Iron ore prices remained relatively strong, thanks to continued demand from China’s infrastructure stimulus programs and India’s industrial expansion. BHP and Rio Tinto performed solidly, while lithium producers were more volatile amid falling lithium spot prices.

• Banks & Financials: The major banks benefitted from higher net interest margins, but mortgage lending growth slowed as households came under stress from higher borrowing costs. The sector remained a reliable dividend payer.  Also, the ever populate CBA share price has contributed about 5% of the total return of the ASX 200.

• Technology: The ASX tech index was a beneficiary of global enthusiasm for AI and software platforms, though it remains a small component of the broader index.

• Healthcare: CSL rebounded from its previous year’s underperformance, aided by growing global demand for biotech and blood plasma products.

• Retail & Consumer Discretionary: Inflationary pressures and elevated interest rates led to softer retail spending and margin compression for companies like JB Hi-Fi and Harvey Norman.

Challenges:

• Household consumption slowed, particularly in housing-linked industries, due to rising mortgage repayments and rental pressures.

• Uncertainty around the RBA’s rate path and weak productivity growth limited corporate earnings upgrades.

Investor Insight:

While the ASX 200 lacks exposure to some of the world's high-growth sectors (like tech and AI), it remains a high dividend yield market, attractive to income-focused investors. A balanced portfolio approach—combining yield from banks and infrastructure with growth in healthcare and mining—was key to navigating the year.

US Share Market (S&P 500, Nasdaq): The AI-Led Bull Run

FY24/25 marked a strong year for US equities, particularly the S&P 500 and the Nasdaq Composite, which delivered returns of 15–16%.

Key Drivers:

• AI Momentum: Tech giants like NVIDIA, Microsoft, Meta, and Alphabet dominated market gains. NVIDIA alone rose over 100% year-on-year, becoming the poster child for the generative AI boom.

• Resilient Economy: Despite high rates, US GDP grew steadily. Employment remained robust, consumer confidence improved, and inflation trended lower.

• Earnings Recovery: Corporate profits bounced back, especially in tech, consumer discretionary, and communication services.

Sector Highlights:

• Technology: The best-performing sector, led by AI demand, cloud services, and semiconductor innovation.

• Consumer Discretionary: Held up better than expected as US households continued spending, buoyed by wage growth and low unemployment.

• Energy: More muted compared to 2022/23, but supported by OPEC+ supply discipline and a recovery in oil prices in Q4.

• Healthcare: Rebounded late in the year, particularly in biotech and managed care providers.

Investor Insight:

The US market is increasingly concentrated: the top 10 stocks now make up over 35% of the S&P 500. Investors should be cautious of overexposure to a narrow group of mega-cap tech stocks. However, quality active managers and ETFs targeting AI, clean tech, or mid-cap industrials provided diversification opportunities.

Global Markets (ex-US): Divergent Recovery Paths

Japan:

• The Nikkei 225 was one of the best-performing global indices, returning over 20%, boosted by:

  • Corporate governance reforms.

  • A weak yen that favoured exports.

  • A return of foreign investor interest in Japanese equities.

China:

• Chinese equities struggled with flat or negative returns.

  • Ongoing property market instability (Evergrande fallout).

  • Weak domestic demand and deflationary trends.

  • Tensions with the US over tech access and trade policy.

• The government introduced stimulus measures, but investor sentiment remained cautious.

Europe:

• European markets have rebounded from the last few years of turmoil.  The European index is up 20% this year.

Emerging Markets:

• Performance was mixed:

  • India and Vietnam outperformed, benefiting from capital inflows and supply chain relocation trends.

  • Brazil and South Africa lagged amid political instability and inflation concerns.

Key Themes That Defined the 2024/2025 Financial Year

1.  AI-Driven Disruption: From Hype to Impact

Artificial Intelligence continued its rapid evolution throughout FY24/25, but this year saw a decisive shift from speculative excitement to real-world integration and monetisation. Major players in the tech sector—particularly in the US—benefited immensely as enterprise adoption of AI tools accelerated.

• Productivity gains were observed across sectors, from financial services to healthcare, where AI improved underwriting, diagnostics, client service, and automation.

• Generative AI platforms moved mainstream, prompting businesses to rethink workforce structures, data security, and intellectual property.

• Investment surged in semiconductor and infrastructure stocks, such as chipmakers (NVIDIA, AMD) and cloud providers (Microsoft Azure, AWS, Google Cloud), which became foundational to AI expansion.

• Cybersecurity saw renewed investor interest as data privacy and protection risks grew in an AI-driven landscape.

Investor takeaway: AI is not a passing trend—it’s a structural force reshaping global business. Portfolio exposure to companies enabling or leveraging AI innovation may continue to offer growth potential, albeit with short-term volatility.

2.  Interest Rate Cycles: Pivot Points and Portfolio Positioning

The global rate hiking cycle that began in 2022 reached an inflection point during FY24/25. While inflation remained elevated in some regions, central banks—including the RBA, the US Federal Reserve, and the European Central Bank—began to signal that peak interest rates had likely been reached.

• The RBA held rates at 4.35%, but cautious optimism emerged about potential cuts in late 2025 or early 2026, depending on inflation outcomes and wage pressures.

• The US Fed held rates in the 5.25–5.5% range for most of the year but adopted a more dovish tone by mid-2025 as inflation retreated toward its 2% target.

• Mortgage holders, especially in Australia, felt the pressure of higher repayments, but fixed-income investors benefited as bond yields stabilised and capital gains returned to the sector.

Investor takeaway: The shift from rate hikes to a holding pattern—and potential easing—revived opportunities in bonds, dividend equities, infrastructure, and REITs. Active management became increasingly important to navigate sector and duration risk.

3. Trade, Tariffs & Geopolitical Fragmentation

Globalisation faced fresh challenges in FY24/25, as tariff tensions re-escalated—particularly between the US and China—fuelled by political rhetoric, national security concerns, and technological rivalry.

• The US introduced new semiconductor export restrictions, prompting retaliatory measures from China.

• India and Southeast Asia emerged as alternative supply chain hubs, attracting manufacturing investment from firms looking to diversify beyond China (the so-called “China+1” strategy).

• Global companies faced rising compliance costs due to shifting trade rules and localisation mandates in AI, data sovereignty, and critical technologies.

Investor takeaway: Supply chains are being rewired. This opens up opportunities in emerging markets, logistics, and advanced manufacturing—but it also introduces a new layer of geopolitical risk that long-term investors must account for.

Looking forward we expect the challenges of the last 6 months to continue and markets will need to navigate not only the ever-changing economic environment but also the political environment (especially in the middle east).  On the home front one of the biggest issues which we will all need to keep an eye on is tax reform.  With a change already being introduced within superannuation, there has been growing speculation the current government may also look at broader tax reform.

Look forward to speaking with you in 2025/2026.

About this measure

On 13 December 2023, as part of the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), the government announced it would amend the tax law to deny income tax deductions for ATO interest charges incurred in income years starting on or after 1 July 2025. This measure is now law.

These amendments deny deductions for ATO interest charges (being the general interest charge (GIC) and the shortfall interest charge (SIC).

This means that taxpayers can no longer deduct GIC or SIC incurred on or after 1 July 2025.

When are ATO interest charges incurred?

Whether you can claim a deduction will depend on when GIC or SIC is incurred. This is when you become liable for the interest charge, for example:

• GIC imposed on unpaid tax liabilities is incurred on a daily basis.

• SIC imposed on an unpaid income tax shortfall is incurred in the year you are served a notice of amended assessment.

ATO interest charges incurred on or after 1 July

Any GIC or SIC incurred on or after 1 July 2025 is not deductible.

This includes all GIC and SIC in respect of outstanding or late payments of tax for income years both before and after 1 July 2025.

As they are not deductible, any GIC or SIC that is later remitted will no longer need to be included as assessable income.

ATO interest charges incurred before 1 July

Any GIC or SIC incurred prior to 1 July 2025 is not impacted by the changes to the law and will continue to be deductible for the 2024-25 and earlier income years.

If you have (or can) deduct GIC or SIC for the 2024-25 or an earlier income year and it is later remitted, the amount that is remitted will need to be included in your assessable income in the year in which the remission occurred.

Source and credit: ATO.gov.au

If you hire staff, you need to pay your eligible workers’ super guarantee (SG) in full, on time and to the right fund by 28 July, 2025.

You need to allow extra time for the payments to reach your employees’ super funds if you’re using a commercial clearing house. Payments are only considered ‘paid’ when the super fund receives them.

The SG rate increased from 11.5% to 12% on 1 July 2025. For the quarter ending 30 June, apply the 11.5% SG rate for payments made before 1 July.

You'll need to apply the 12% rate for all salary and wages paid to eligible workers on and after 1 July. This is even if some or all of the pay period it relates to is before 1 July.

Check: if you haven't paid on time

If you haven't paid on time, make sure you:

• calculate the SGC

• lodge the SGC statement and pay the SGC by the due date

  • the SGC and statement due dates are:

    • Quarter 1 – 28 November

    • Quarter 2 – 28 February

    • Quarter 3 – 28 May

    • Quarter 4 – 28 August

• provide full information for each worker, to ensure the allocated SG entitlements are paid to the correct worker's super fund, including their:

  • full legal name

  • tax file number

  • date of birth

  • last known address.

Use the SGC statement instructions when completing this form. It's important to take the time to get this right to ensure the ATO can accept your SGC statement. The earlier you lodge correctly and pay your overdue super, the less interest and charges you will pay.

If you need help, you can contact the ATO or a tax professional.

Source and credit: ATO.gov.au

If your business pays contractors to deliver any of these services on your behalf, you may need to lodge a Taxable payments annual report (TPAR) online by 28 August:

• building and construction

• cleaning

• courier and road freight

• information technology (IT)

• security, investigation or surveillance.

TPAR helps the ATO keep things fair for all businesses by making sure contractors report all their income.

On your TPAR, you need to record the:

• contractor’s name, address and ABN

• total amount you paid them for the previous financial year – including any GST and cash payments.

You can find these details on your contractor’s invoice. It’s the same information you use to claim income tax deductions through your tax return, and GST credits through your business activity statement.

Lodging your TPAR online is quick and easy using SBR-enabled software or through Online services for business. Your registered tax professional can also lodge on your behalf.

Penalties may apply for overdue TPAR. The ATO will no longer be accepting paper lodgments after 28 August 2025, so it’s important to make sure you’re set up for online lodgment.

Source and credit: ATO.gov.au

FREE WEBINAR Thursday 24 July 2025, 10:00 AM - 2:00 PM (AEST)

Where

Online.

When

Thursday 24 July 2025, 10:00 am - 2:00 pm (AEST).

The Presenter

Geoff Silk - Geoff Silk is a businessman and coach with extensive experience in advising new and established businesses. He works closely with business owners to help them achieve their goals. His practical approach has guided hundreds of businesses to success. 

About this event

This face-to-face workshop will provide you with everything you need to know to analyse your business idea, plan at strategic, operational and tactical levels and undertake the essential practical preparations before launch to enable your business.

Do you have a business idea but are unsure where to start? Or maybe you have already started your business but you are feeling your preparations were not as thorough as you wish they had been. Whatever the stage of your business, and no matter how long you have been in business, this face-to-face workshop will provide you with everything you need to know to analyse your business idea, plan at strategic, operational and tactical levels and undertake the essential practical preparations before launch to enable your business to hit the ground running while minimising stress for you. You will also have the opportunity to be able to discuss content with the workshop facilitator while being in the company of like-minded attendees with whom you can discuss your business ideas and build relationships.

Learning Outcomes

• Understand how a business works.

• Know how to undertake a feasibility check on your business idea.

• Gain an understanding of the key areas to manage a business successfully.

• Learn how to evaluate the information you assemble in your feasibility check.

• Learn what is required for your business to grow.

• Become aware of the roles of a business owner.

• Learn how to market your business.

• Understand how to sell.

• Learn how to manage the finances of your business.

• Gain an understanding of your business compliance responsibilities.

• What to do from Day 1.

Who is this for?

• This workshop is aimed at entrepreneurs throughout Sydney, and has a capacity to host up to 20 people.

• This workshop is for aspiring business owners who are looking to start their own business.

• Customers can access up to 8 hours of free support per financial year, which includes business advice sessions and events.

This event will be delivered by Realise Business, an approved independent provider for Service NSW Business Connect.

To register your interest click the link below.

Source and credit: Mybusiness.service.nsw.gov.au

We always like to support our locals!  Here are some community events happening this month (in date order).

Bangalow Farmers Market dates on Saturday's, 5, 12, 19 and 26 July | 7:00 AM to 11:00 AM

Discover the Heart of Local Food at Bangalow Farmers Market Every Saturday morning from 7:00 am - 11:00 am, the Bangalow Hotel carpark transforms into a vibrant hub of local food. Our farmers offer a bountiful harvest of fresh produce, artisan goods, and more. Meet the farmers, learn about sustainable practices, and support your local community. Visit Bangalow Farmers Market and experience the true essence of local food.

Location: Behind Bangalow Hotel, 1 Byron Street, Bangalow

Byron Bay Community Market next date is Sunday, 6 July | 8:00 AM to 3:00 PM

The Byron Bay Community market is held from 8:00 am to 3:00 pm on the 1st Sunday of every month.

The market hosts an eclectic collection of stalls that showcase what Byron has to offer.

Road closures and traffic changes on market day:

• Jonson Street is closed to traffic at the corner of Byron and Marvel Streets from 5:00 am to 5:00 pm.

• Traffic is diverted via Fletcher Street.

• The Lawson Street South carpark is closed from 5:00 am to 5:00 pm.

• There may be traffic delays on Lawson Street between the Shirley Street and Jonson Street roundabouts between 6:00 am to 8:00 am and 3:00 pm to 5.30 pm.

• The railway carpark is open under traffic control via the laneway on Jonson Street.

• Traffic controllers will be in place on market day. 

Location: Byron Bay CBD, Railway Park, Jonson Street, Byron Bay

Naidoc Week date on Thursday, 10 July | 10:00 AM to 2:00 PM

The theme of this year's NAIDOC Week is 'The next generation: strength, vision and legacy.'

Join the Bundjalung of Byron Bay (Arakwal people) and Byron Shire Council to celebrate NAIDOC Week in Byron Bay on Thursday 10 July at a free community family day from 10:00 am to 2:00 pm.

The event will kick off with a march from Railway Park to Dening Park at 10:00 am, and festivities will continue at Dening Park. Here there will be a Welcome to Country and smoking ceremony, cultural dances, stalls, an elders' tent, face painting, weaving and NRL football players. Stay for a free BBQ lunch. 

Location: Dening Park, Lawson Street, Byron Bay

Friends of Libraries Book Fair date on Friday, 11 July - Monday, 14 July | 9:00 AM to 4:00 PM

Friends of Libraries will hold a four-day book fair to fundraise for our local libraries. Support this great initiative run by volunteers now in its 11th year and grab yourself a bargain!

Location: Byron Bay Surf Club, 2/10 Bay St, Byron Bay

Climate Conversations launches 'Rise and Fall' by Karla Dickens date on Friday, 11 July | 5:00 PM to 7:00 PM

The biennial ‘Climate Conversations’ project presents a powerful installation ‘Rise and Fall’ by nationally recognised Indigenous artist Karla Dickens.

Come along to an event to officially launch the project. Friday 11 July from 5:00 pm.

As a Wiradjuri woman who has lived on Bundjalung country for many years, Karla explores climate catastrophe from a First Nations perspective and through her own lived experience in the 2022 Lismore floods.

The community can engage with this interactive project through a series of events, talks and workshops to help generate deeper conversations around climate challenges.

Highlights from the program of free events

• Launch event at Lone Goat Gallery on Friday 11 July from 5:00 pm until 7:00 pm. Bookings essential.

• Information Session about plastic on Saturday 12 July from 10.30 am. Bookings essential.

• ‘Working Together as Community’ with Ella Bancroft and Karla Dickens on Saturday 19 July from 2:00 pm. Bookings essential.

• Creating Space with Karla Dickens on Saturday 26 July from 1:00 pm until 3:00 pm. Bookings essential.

• Our ‘Rescue Mission’ Making Space: bring your clean milk bottle lids and plastic water bottles to the gallery and recycle them through creative play. Your finished pieces can be added to a community installation. No bookings required.

About Climate Conversations

‘Climate Conversations’ invites Northern Rivers artists to collaborate with community. It explores ways we can adapt, reorganise, and evolve in the face of climate change through the arts.

The theme this year is Rising. The project will run from 12 July until 9 August 2025.

For more information and booking visit Rise & Fall on the Lone Goat website

Location: Lone Goat Gallery, 28 Lawson Street, Byron Bay

Mullumbimby Community Market next date is Saturday, 19 July | 8:00 AM to 2:00 PM

The Mullumbimby Community Market is held on the third Saturday of each month from 8:00 am to 2:00 pm.

The market is a vibrant family-friendly festival held in Summers Park. Discover unique treasures among the diverse stalls offering artisan clothing, jewellery, homewares, plants, and more, all while enjoying live music and delicious food. With its warm, welcoming atmosphere and support for the local historical society museum, the Mullumbimby Community Market is a must-visit destination for both locals and visitors.

Location: Corner of Stuarts and Myocum Streets, Mullumbimby

North Coast Tourist Symposium Event date on Thursday, 31 July | 9:00 AM to 4:00 PM

The 2025 North Coast Tourism Symposium is a full-day conference where industry leaders will gather to celebrate and showcase the innovative, entrepreneurial, and sustainable practices that are actively transforming our visitor economy for future success.

The event is especially tailored for North Coast tourism operators and anyone passionate about boosting the region's visitor economy! 

Picture yourself rubbing shoulders with enthusiastic delegates from all corners of the North Coast, creating invaluable connections and forging partnerships that will propel your business to new heights!

This year’s theme is 'Inspire! Shaping Tomorrow’s Visitor Economy'.

We're proud to share that the 2025 North Coast Tourism Symposium and Regional Tourism Awards Gala are now officially EarthCheck Verified events. 

The draft program is now live. Explore the speaker lineup, session topics, and what to expect on the day.

2025 North Coast Regional Tourism Awards Gala

In the evening, join us for a night of celebration as Destination North Coast, in partnership with NSW Tourism Association, announces the winners of the 2025 North Coast Regional Tourism Awards.

The much-loved annual Awards Gala presents an opportunity to gather and celebrate the growth and entrepreneurship of tourism businesses and industry partners across the North Coast

Destination Network region. 

• Time: From 6.00pm until late

• Location: Elements of Byron

• Dress: Dress to impress 

Get your tickets by visiting 2025 North Coast Tourism Symposium and Regional Tourism Awards Gala

Location: Byron Theatre, Jonson Street, Byron Bay

Source and credit: Byron.nsw.gov.au/Recreation-Culture/Events-Venues/Whats-On

Key lodgment and payment dates for business

7 July

Employee share scheme (ESS)

• ESS statements to be sent to employees.

14 July

Single Touch Payroll (STP) finalisation

• End of year finalisation declaration through STP due.

PAYG withholding

• Payers must issue PAYG withholding payment summaries to payees (that is, employees and other workers) for payments not reported through STP.

21 July

Activity statements

• Quarter 4 (April–June) PAYG instalment activity statement for head companies of consolidated groups – final date for lodgment and payment.

• June monthly activity statements – final date for lodgment and payment.

Finalising all your PAYG instalments before you lodge your tax return will ensure you receive the correct amount of credit in your income tax assessment.

28 July

Activity statements

• Quarter 4 (April–June) activity statements – final date for lodgment and payment.

Finalising all your PAYG instalments before you lodge your tax return will ensure you receive the correct amount of credit in your income tax assessment.

PAYG instalments

• Quarter 4 (April–June) instalment notices (forms R and T) – final date for payment and, if varying the instalment amount, lodgment.

Finalising all your PAYG instalments before you lodge your tax return will ensure you receive the correct amount of credit in your income tax assessment.

GST instalments

• Quarter 4 (April–June) instalment notices (forms SA and T) – final date for payment and, if varying the instalment amount, lodgment.

Superannuation

• Due date for payment of super guarantee (SG) contributions for quarter 4 (1 April – 30 June) in the previous financial year.

  • SG contributions are to be received by the superfund by this date. You need to allow sufficient time for SG payments to reach and be processed by your super fund, especially if using a SG clearing house.

  • If you don't pay the SG contributions for quarter 4 in full and by this date, you must pay the super guarantee charge (SGC) and lodge a Superannuation guarantee charge (SGC) statement to the ATO by 28 August.

It's important to note, SGC is more than the SG you would have normally paid and is not tax deductible.

31 July

TFN report

• Quarter 4 (April–June) TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries – final date for lodgment.

Foreign Account Tax Compliance Act (FATCA) Report

• The reporting period for the FATCA is 1 January to 31 December. The due date for the report is 31 July the following year.

Common Reporting Standard (CRS) Report

• Reports from Australian RFIs include data from January to December and are due annually, by 31 July in the following year.

Source and credit: ATO.gov.au