Here’s a quick, clear rundown of when the financial year is in Australia and the key dates you need to keep on your radar.
Please note that this is for informational purposes only and is drawn from the ATO website, and is subject to change at any time without this page updating. Ensure you speak to a qualified financial advisor to get a list of your dates.
When Is the Financial Year in Australia?
The Australian financial year runs from 1 July to 30 June, and crosses across two years. So the 2024-25 financial year started on 1 July 2024 and ends on 30 June 2025.
We often shorten this to FY25, or FY26 etc. That stands for the financial years ending in 2025. So FY25 is from 1 July 2024 to 30 Jun 2025.
Most tax obligations, reporting requirements, and super contributions are tied to this July-June cycle. It’s worth building your financial planning habits around it early.
Key Financial Year Dates in Australia for Small Business Owners
Tax Returns
- 31 October – Deadline for most individuals and sole traders to lodge their own tax return for the previous financial year.
- There is an extended deadline if you’re using a registered tax agent. You need to be on your agent’s books before 31 October to access this extension.
- Check out ATO’s updated list here.
Business Activity Statements (BAS)
If you’re registered for GST, you’ll lodge a BAS quarterly or monthly. Quarterly lodgement dates are:
- 28 October – Q1 (July-September)
- 28 February – Q2 (October-December)
- 28 April – Q3 (January-March)
- 28 July – Q4 (April-June)
Monthly BAS is due on the 21st of the following month.
Superannuation Guarantee
Super contributions for employees are due 28 days after the end of each quarter:
- 28 October – Q1 contributions due (1 July to 30 September)
- 28 January – Q2 contributions due (1 October to 31 December)
- 28 April – Q3 contributions due (1 January to 31 March)
- 28 July – Q4 contributions due (1 April to 30 June)
Missing super deadlines is one of the more costly mistakes a small business can make, as you don’t just owe this money to the tax man – this is a type of wage theft. The ATO charges interest and can issue penalties, and late super is not tax-deductible. The ATO’s key dates page is worth bookmarking.
PAYG Withholding (if you have employees)
- 14 July – Single Touch Payroll (STP) finalisation deadline for the previous financial year. This is how your employees get their income statements to lodge their own tax returns.
- 14 August – PAYG Annual report due.
- 30 September – Closely held employee date for businesses >20 staff (See ATO)
- 31 October – PAYG Date for annual PAYG report for foreign employees (See the link above)
Company Tax Returns
- 31 October – Standard deadline for companies lodging their own return.
- 15 May (following year) – If using a tax agent, same extended deadline as individuals.
- See ATO Link here.
A Note on Substituted Accounting Periods
Most businesses are locked to the standard 1 July – 30 June financial year in Australia. But some businesses, particularly those with overseas parents or specific ATO approval, can apply for a substituted accounting period (SAP) – essentially a different financial year end. This is uncommon for small businesses but worth knowing exists – as some industries like seasonal businesses have problems with the standard accounting dates, as they fall right in the middle of a season. See ATO link here.
Why This Matters Beyond Tax Time
Understanding the financial year isn’t just about staying compliant. It’s about building a business that runs well all year, not just scrambles at the end of June.
When you know your financial year structure, you can plan income and expenses strategically, time your purchases to maximise deductions, forecast cash flow properly, and avoid the last-minute panic that hits a lot of small business owners every October.
If you’re still at the stage of pulling your business structure together, a sample business plan for Australia can help you build those financial habits from the start.
Quick Reference Summary
| Obligation | Key Date |
|---|---|
| Individual / sole trader tax return | 31 October |
| Tax agent lodgement extension | 15 May |
| BAS (quarterly) | 28 Oct / 28 Feb / 28 Apr / 28 Jul |
| Super guarantee contributions | 28th after each quarter end |
| STP payroll finalisation | 14 July |
| Company tax return | 31 October (or 15 May via agent) |
The financial year in Australia is straightforward once you know the cycle. The dates above cover the main obligations for most small business owners. If you’re unsure which apply to your situation, talk to a registered tax agent – the cost is usually worth it.