July 1 changes your business should know
As the new financial year approaches, it’s time to prepare and consider the following upcoming tax changes that will come into play as of 1 July 2025.
Payroll
- Superannuation Guarantee increase
The Superannuation Guarantee (SG) rate will increase from 11.5% to 12%.
- Minimum wage increase
Changes to the minimum wage and award wages should be factored into payroll and budgeting for the year ahead. The new National Minimum Wage will be $24.95 per hour, or $948 per week
- PAYG Withholding
Ensure you’re using the correct and up to date withholding schedules and tax tables
- Paid Parental Leave Superannuation
From 1 July, the ATO will pay superannuation on government funded Parental Leave Pay
Deductions and Other expenses
- Energy bill relief
The Government has extended its small business energy bill relief through to 31 December 2025, offering up to $150 in rebates automatically applied to your account
- ATO interest expenses
From 1 July 2025, any ATO General Interest charge and shortfall Interest charges will become non-deductible. This will significantly affect any taxpayer with overdue tax liabilities or shortfalls. Charges accrue daily, for certain individual or business taxpayers with significant outstanding tax debt, this will mean a considerable increase in the after- tax cost of ATO interest charges
Other
- Company Fees
ASIC company registration and annual review fees will increase from 1 July 2025. The cost of registering a company will increase from $597 to $611. Annual Review fee for a proprietary company will increase from $321 to $329
- Right to Disconnect will apply to small businesses
Eligible employees will have the right to refuse employer or third-party contact outside of working hours. This change will start on 26 August 2025 for small business employers.
Author
Naomi Aspromourgos