August 2025

Here’s a quick summary of important tax updates and compliance reminders for August. Please get in touch if you have any questions or need assistance.

Key Dates

• 21 August 2025 – July 2025 monthly BAS due for lodgement and payment.

• 28 August 2025 – Deadline for superannuation contributions if using the Small Business Superannuation Clearing House to meet the 28 July quarterly deadline.

• 31 August 2025 – Taxable Payments Annual Report (TPAR) due for businesses that provide:

  • Building and construction services

  • Cleaning services

  • Courier and road freight services

  • Information technology services

  • Security and investigation services

    
    

Tax Planning Consideration

If your business is experiencing higher-than-expected income early in the financial year, consider reviewing your PAYG instalments. Adjusting now can help manage cash flow more effectively and avoid surprises at year-end.

Instant Asset Write-Off

The government has proposed a $20,000 instant asset write-off threshold for eligible small businesses for the 2025–26 financial year. However, this has not yet been legislated, so we recommend holding off on large purchases until the position is confirmed.

Cybersecurity Reminder

The ATO continues to warn about scams and identity theft. It’s a good time to review your digital security, including accounting software access, password protection and two-factor authentication.

STP Finalisation

Single Touch Payroll (STP) finalisation was due by 14 July. If you haven’t completed this for the 2025 financial year, please finalise it as soon as possible to avoid penalties and allow employees to lodge their tax returns.

If you have any questions about the above, or would like to review your current position, please don’t hesitate to reach out.