The end of the financial year (EOFY) is fast approaching, and as always, it’s a busy time for accountants and businesses alike. With deadlines to meet and important payments to be made, it’s easy for things to slip through the cracks. But don’t worry – we’ve put together a handy list of the key dates you need to know, so you can stay ahead of the game and avoid any last-minute stress.
Here’s your quick guide to the important deadlines in the lead-up to EOFY.
21st April 2025: Monthly Superannuation Guarantee Contribution for March 2025
Next up, another superannuation contribution, this time for March 2025. This one’s due on the 21st April 2025, so make sure you get those payments in before the deadline. It’s a good practice to set a reminder each month so that this doesn’t sneak up on you.
28th April 2025: Quarterly Superannuation Guarantee Contribution for 1st Jan 2025 – 31st Mar 2025
If you’re on quarterly payments for superannuation, this is your deadline for the period of January to March 2025. Mark the 28th April in your calendar to make sure your super contributions for the first quarter of the year are paid on time.
21st April 2025: IAS – Monthly PAYG Withholding Due for March 2025
For businesses that lodge Instalment Activity Statements (IAS), the monthly PAYG withholding for March 2025 is due by the 21st April 2025. This covers the tax that’s been withheld from employee wages and other payments made by your business, so it’s vital to ensure everything is accounted for.
21st May 2025: IAS – Monthly PAYG Withholding Due for April 2025
Next in line is the PAYG withholding for April 2025, which is due on the 21st May 2025. Staying on top of these monthly obligations is key to avoiding any late fees or penalties. It’s a good idea to have a system in place for tracking these monthly payments.
21st May 2025: 2025 FBT Returns Due (or 25th June 2025 If Lodged by Tax Agent)
The end of the Fringe Benefits Tax (FBT) year has passed which means it’s time to start gathering your records. The FBT return is due on 21st May 2025, but if you’re working with a tax agent, you’ve got a little extra breathing room, with the deadline extended to 25th June 2025. It’s a good time to check that all your documents are in order and your records are up to date.
26th May 2025: Quarterly BAS Due for 1st Jan 2025 – 31st Mar 2025
For those with a quarterly Business Activity Statement (BAS), the due date for the January to March quarter is 26th May 2025. This will include details of your business’s GST, PAYG withholding, and other tax obligations for the quarter. Having everything ready before this date will help you avoid any last-minute panic.
21st June 2025: IAS – Monthly PAYG Withholding Due for May 2025
Finally, the last key due date before EOFY is the PAYG withholding for May 2025, which needs to be lodged by 21st June 2025. Keep an eye on this date to ensure that you meet all your obligations in the final stretch of the financial year.
Stay Ahead of the Game
The EOFY can feel overwhelming, but a little planning goes a long way. By keeping track of these key dates, you’ll ensure that everything is filed on time and avoid the stress of last-minute scrambles. Whether you’re an accountant working with multiple clients or a business owner managing your own affairs, knowing when these deadlines are coming up will help you stay organised and compliant.
Understanding how these changes affect your finances is crucial. If you’re feeling uncertain about the impact on your personal situation, now’s a great time to chat with an expert.
Feel free to reach out for a quick, no-obligation consultation on how these dates (and other EOFY considerations) might influence you or your business. Simply click below to get started! https://outlook.office.com/owa/calendar/Gbb3a34b300e54bd69fcde3093183c30e@thehopkinsgroup.com.au/bookings/