Annual reconciliation for payroll tax is fast approaching. To help you prepare, please:

Between 1 July and 21 July, use the End of Year (EOY) Lodgment function in Revenue Online to:

  • lodge and pay any outstanding returns and your June return
  • review your total WA taxable wages declared for the financial year
  • lodge your Australian taxable wages, and your group’s Australian taxable wages if applicable
  • if you are the designated group employer of an interstate group – declare the interstate taxable wages paid by group members and
  • lodge your estimated taxable wages for the 2024-25 financial year, and your group’s estimated taxable wages if applicable.

If you need help with your annual payroll tax reconciliation, contact our bookkeeping team at hello@thesmallbusinesslounge.com.au now.

This is vital for several reasons:

  • Compliance: Ensures your business complies with state tax laws.
  • Accuracy: Helps in accurately reporting your taxable wages.
  • Avoid Penalties: Timely and correct submission of payroll tax information can help avoid penalties and fines.

Preparing for the annual payroll tax reconciliation might seem daunting, but following these steps will make the process smoother and more manageable. Make sure to review all requirements, update your registration status, and use the Revenue Online EOY Lodgment function within the specified period. Staying proactive and organised will help ensure your business remains compliant and avoids any unnecessary complications.

By staying informed and prepared, you can efficiently manage your payroll tax obligations and focus on the continued success of your business.

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