October 2025

October has brought several important tax and superannuation updates from the Australian Taxation Office (ATO). Here’s a summary of the key developments relevant to individuals and small businesses

New Effective Lives for Depreciating Assets

The ATO has released the Income Tax (Effective Life of Depreciating Assets) Determination 2025, which replaces the 2015 version from 1 October 2025.This update changes how businesses calculate depreciation deductions, so it’s important to ensure your asset registers and schedules are updated accordingly.

2025-26 Compliance Focus Areas

The ATO has outlined its main compliance priorities for privately owned and wealthy groups, including:

• Late or incomplete lodgements and weak internal governance

• Overclaimed deductions and GST credit errors

• Trust distribution arrangements and Division 7A loan issues

• Capital gains treatment for foreign beneficiaries

• Increased scrutiny of cryptocurrency, R&D, and cross-border transactions

  
  

Payday Super to Start 1 July 2026

The government has introduced legislation requiring employers to pay super contributions within seven business days of each pay run. This 'payday super' reform aims to reduce unpaid super but may create additional cash flow and administrative challenges for small businesses.

ATO Pursuing Old Debts

The ATO has resumed collection of long-dormant tax debts, some dating back to the early 2000s. Taxpayers who receive such notices should seek professional advice, particularly where supporting records are no longer available.

Corporate Tax Transparency Report Released

The ATO’s latest corporate tax transparency data (2023–24) highlights record tax contributions from large companies and reinforces the ATO’s focus on transparency and public trust in the system.

Key Deadlines

• 28 October 2025: Quarterly BAS due for July–September quarter

• 31 October 2025: Individual tax returns due if lodging through myTax or paper(Those using a registered tax agent must be linked to the agent by 31 October to access extended lodgement dates.)

Need help staying compliant or understanding how these changes affect you?Contact Apex Tax Advisory for personalised advice and assistance with your tax or super obligations.