Sentrika

The new financial year is here—have you ticked off your July business priorities?

From reviewing your EOFY results and cash flow to preparing for key compliance deadlines and making sure your payroll is Payday Super ready, a little planning now can save a lot of stress later.

Read our latest blog for the key areas every business owner should be focusing on this month.

July Business Priorities: Setting Your Business Up for a Strong Start to the Financial Year The new financial year is the perfect opportunity to reset and review your business performance and make sure you're meeting your upcoming compliance obligations. Here are the key priorities business owners should be focusing on this July.

Payday Super starts tomorrow – is your business ready?

From 1 July 2026, employers will need to pay super at the same time employees are paid.

While the amount of super you pay won't change, the change in timing could have a significant impact on your business's cash flow.

Read our latest blog to learn what this means for your business and how you can prepare.

Payday Super: What It Means for Your Business Cash Flow For many Australian businesses, paying superannuation once a quarter has become part of the normal business rhythm. You process payroll, set aside the super, and make a single payment before the quarterly due date.

Cheers to the unsung heroes of the financial world! Happy International Accountants Day to all the number crunchers, balance sheet wizards, and financial gurus out there 📊✨

Employers reporting through Single Touch Payroll (STP) are required to submit a finalisation declaration by 14th July each year. This declaration confirms that your employees' income statements have been finalised and are ready to use in the completion of their their tax return.

To ensure you remain compliant with the Australian Taxation Office (ATO), it is crucial to complete the declaration by the deadline. If you need assistance finalising your Single Touch Payroll, please get in touch with one of our trusted advisers.

www.sentrika.com.au

And that’s a wrap 🎉

As the sun sets on another financial year, we would like to extend our deepest gratitude to our valued clients for allowing us to join them on their financial journey. Your trust and partnership have been vital to our collective achievements, and we have been honoured to have played a role in your growth and success!

Looking ahead, we remain committed to providing unwavering support to help you continue to reach your financial goals and more!

Thank you for choosing us as your trusted advisors, the Sentrika team.

📅 Tick off these important tasks before 30 June:

☑️ Maximize your tax benefits: Make a personal super contribution to claim a deduction in 2023.
☑️ Boost your business: Purchase business assets over $20k to claim the Temporary Full Expensing deduction.
☑️ Stay Super compliant: Make employee super payments by 23rd June to claim a deduction in 2023.
☑️ Financial responsibility: Make the minimum repayment for any Division 7a Director Loans.
☑️ Trust matters: Prepare Trust Distribution Resolution to avoid paying the highest marginal tax rate.

*This information should not be deemed professional advice. Individuals should always discuss financial matters with their accountant or financial adviser.

With the rise of the Content Creator era, platforms such as TikTok, YouTube & OnlyFans have offered an opportunity for creators to profit from the audience they generate, but the tax office has put the booming industry on notice.

Our latest blog outlines the ATO's expectations on how the income should be treated.

www.sentrika.com.au/blog/content-creators-and-tax/

Happy Long Weekend! 🌊

Our office will be closed on Monday 1st May, we will be resuming normal office hours from Tuesday 2nd May.

If your business isn’t registered for Fringe Benefits Tax (FBT), it is important that you determine whether it needs to be. In our latest blog, we discuss what the ATO deems a Fringe Benefit and what benefits are exempt.

www.sentrika.com.au/blog/fringe-benefits-tax/

Feeling overwhelmed by your tax obligations? Unsure you’re getting the most out of the available tax concessions? If so, tax planning could be the key to taking back control of your finances.

Whether you're an employee or a small business owner, tax planning can help you stay ahead of the game and achieve your financial goals.

Head to our latest blog to discover what tax planning can do for you!

www.sentrika.com.au/blog/guide-to-tax-planning/

Maximising your Finances: A Guide to Tax Planning Do you feel overwhelmed by your tax obligations? Are you unsure you’re getting the most out of the available tax concessions? If so, tax planning could be the key to taking back control of your finances.