Employers & Small Business Owners: Here’s What You Need To Know Entering Into FY26
As FY25 draws to a close and FY26 begins, a number of key updates came into effect from 1 July 2025. Here’s a summary of the most important changes for employers and small businesses to stay on top of:
1. Single Touch Payroll (STP) Finalisation
If you’re reporting through Single Touch Payroll (STP), you must complete your end-of-year finalisation by 14 July 2025. This ensures your employees can access their income statements via MyGov to lodge their tax returns.
If you’re unable to meet the deadline, be sure to request a deferral through the ATO.
2. Payroll Tax Annual Returns
Payroll tax applies if your total wages exceed the relevant state threshold. Annual returns must be lodged and paid by:
- Queensland – Monday, 21 July 2025
- New South Wales – Monday, 28 July 2025
Late payments may incur unpaid tax interest (UTI) and penalties, so don’t delay.
3. Super Guarantee Increase
From 1 July 2025, the Superannuation Guarantee (SG) rate increases to 12%. This applies to all ordinary time earnings paid on or after 1 July, even if some of the pay period relates to June.
- Next quarterly SG payment due: 28 July 2025
Ensure SG is paid in full, on time, and into the correct super fund. You may pay more frequently than quarterly, but late payments may result in penalties and a Superannuation Guarantee Charge (SGC).
4. Wage Increases from 1 July 2025:
- National Minimum Wage increases by 3.5% to $948/week or $24.95/hour
- Award minimum wages also rise by 3.5%
- Junior, apprentice, and supported wages increase proportionately
These changes apply from the first full pay period on or after 1 July 2025.
Check updated rates using Fair Work’s Pay Tool:
5. WorkCover QLD – Renew by 31 August
If you’re covered by WorkCover Queensland, don’t forget to declare your wages and renew your policy by 31 August 2025. This ensures your workers remain covered for work-related injuries. Renew online HERE:
6. Changes to Parental Leave Pay
From 1 July 2025, eligible employees with a child born or adopted on or after this date may receive up to 24 weeks of Parental Leave Pay – paid at the national minimum wage (plus a 12% superannuation contribution). This is in addition to any employer-funded parental leave schemes.
7. Right to Disconnect – Small Business Deadline
From 26 August 2025, the new Right to Disconnect laws will also apply to small businesses. This gives employees the right to not respond to contact outside working hours, unless it is reasonable to do so. This applies to contact from employers, colleagues, or third parties.
8. ATO Interest
From 1 July 2025, interest charged by the ATO on outstanding or overdue debts no longer will be tax-deductible.
Have more questions? Call or click to discuss with a Macro Group team member.
The Macro Group Team
Date: 11/07/2025
The Macro Group Limited AFSL:485843 Tax Agent Number 24 76 5236.
The information in this article contains general information only. We have not taken into consideration any of your personal objectives, financial situation or needs. Before taking any action, you should consider whether the general advice contained in this communication is appropriate to you having regard to your circumstances and needs, and seek appropriate professional advice if you think you need it. We recommend that you consult a licensed or authorised financial adviser if you require financial advice that takes into account your personal circumstances.