As of 30 June 2024, there were 2.66 million actively trading
businesses in Australia—nearly 1 million of them employing
staff. The close of the 2024– 2025 financial year marks a
critical window to ensure full compliance with payroll obligations
under the Australian Taxation Office (ATO).
From updated employee data and superannuation contributions to
Single Touch Payroll (STP) Phase 2 finalizations and Fringe
Benefits Tax (FBT) declarations, the compliance landscape is
increasingly structured—and unforgiving.
For global companies with Australian branches, overlooking
payroll year-end obligations can lead to regulatory penalties,
misreporting under STP, and disruptions in employee tax
processing issues that directly impact operational continuity
and employee trust. With final submissions due by 14 July 2025,
employers must act now.
