Newsletter

21 APRIL 2025

• March 2025 monthly business activity statement - due date for lodgement and payment.

The Government’s big moment in the 2025-2026 Federal Budget was the personal income tax cuts. Income tax cuts are a dazzling headline but in reality, they deliver a tax saving of up to $268 in the 2026-2027 year, with a tax saving of up to $536 from the 2027-2028 year.

The Fringe Benefits Tax (FBT) year ends on 31 March. We have outlined the hot spots for employers and employees.

ATO MOVING NON-COMPLIANT SMALL BUSINESSES TO MONTHLY GST REPORTING

From 1 April 2025, the Australian Taxation office (ATO) is moving certain small business taxpayers from quarterly to monthly GST reporting if they have a history of non-compliance (e.g., missing payments, late BAS lodgments, or incorrect GST reporting).