June 2025 business tax update smarter moves this eofy sovereign private 323051286767
Published: 2-Dec-25 | By Sovereign Private
June 2025 Business Tax Update: Smarter Moves this EOFY-Sovereign Private
As EOFY approaches, the ATO reminds business owners to get it right from the start. Register properly, choose the right structure, maintain accurate records, manage payroll obligations, and meet tax deadlines. The instant asset write-off remains at $20k per asset for FY25. This is a valuable opportunity for businesses with turnover under $10m using simplified depreciation rules. The ATO continues to scrutinise GST, PAYG, and income tax compliance. A recent ART decision highlighted that genuine financial hardship may support partial release of tax debt. Finally, ignore online rumours: superannuation preservation age remains unchanged.