Key Financial Tasks to Tick Off Before 2025

Ensure a solid start to 2025 with these essential financial tasks to tackle before the holiday break:

1. Chase outstanding invoices:

   The holiday season can bring unexpected costs. Pursue outstanding invoices now to ensure steady cash flow and avoid chasing payments in the New Year.

2. Pay your taxes:

   The silly season can be hectic! Don’t let key tax dates slip:

   • PAYE: Due for large employers on 5 and 20 December AND 15 and 20 January. For small employers, it’s due on 20 December and 20 January. You’re a ‘large employer’ if your gross annual PAYE and ESCT total more than $500,000, and a ‘small employer’ if the amount is less.
   • GST: Return and payment for November is due on 15 January, and for December on 28 January.
   • Provisional tax: Due on 15 January if your business has a March balance date.
   • FBT: Return and payment for the December quarter is due on 20 January.

   Pin up the dates somewhere you won’t forget.

3. Review your 2025 budget:

   A well-planned budget can help you start the New Year on solid financial footing, so take time to assess revenue streams, expected costs, and potential capital expenditures.

4. Set aside funds for January:

   A drop in customer spending after the holidays can mean poor cash flow. Setting aside funds to help cover January’s expenses can prevent financial strain when business resumes.

5. Look ahead to 2025:

   Check to see if changes on the horizon impact your business and bottom line. We’ll keep you posted.