EOFY Checklist for Food Business Operators

30 June is closer than it looks. Here's what to work through before the new financial year kicks in. 

End of financial year is one of the most important periods on the calendar for food and hospitality businesses, and one of the easiest to get caught short on. Between service, staffing, and the general pace of running a venue, it's the kind of admin that can slip until it's urgent.

This checklist is designed to help you close out FY2025/26 in good shape and start the new financial year without loose ends.

Payroll & Superannuation

Get your superannuation contributions up to date before 30 June. Late payments are not tax-deductible, and the ATO is active in this space.

From 1 July 2026, the super guarantee rate increases from 11.5% to 12%. Update your payroll system now so there is no lag when the new rate commences.

July 2026 also marks the start of Payday Super, one of the most significant changes to superannuation in decades. From 1 July, employers will be required to pay super for each pay cycle rather than quarterly. If you currently use the Small Business Superannuation Clearing House, note that it closes permanently on 1 July 2026 and you will need an alternative arrangement in place.

The ATO has released guidance and resources to help employers manage the transition at ato.gov.au/paydaysuper. Work through this before July so you are not caught short during your first pay run under the new system.

Reconcile your Single Touch Payroll data against your payroll records and address any discrepancies before year end.

MORE INFORMATION

Award Rates & Entitlements

The Fair Work Commission's annual wage review typically takes effect from 1 July. Updated award rates will apply across the hospitality and restaurant sectors, so confirm the changes with your payroll provider and make sure they are loaded before your first July pay run.

Review outstanding annual leave and long service leave balances. If there are entitlements sitting on the books, they may need to be recognised this financial year.

Tax & Record Keeping

The ATO has audited more than 300 small businesses since July 2025, uncovering over $70 million in unpaid taxes and issuing more than $26 million in penalties. The focus is on businesses omitting or under-reporting income, and the ATO receives more than 1,000 tip-offs every week.

For restaurant and café operators, clean records are your best protection. Complete your stocktake as at 30 June and ensure your records reflect accurate valuations. Reconcile your POS, EFTPOS, and cash records against your accounts, and make sure all business expenses are captured. Equipment, uniforms, training, and meal costs may be deductible.

If you have purchased equipment or are planning to before 30 June, check your eligibility for the instant asset write-off.

The ATO's Tax Basics for Small Business video series covers record keeping, deductions, and reporting obligations in plain language. Worth a watch at ato.gov.au/SBtaxbasics.

BAS & GST

If you are on a quarterly BAS cycle, your Q4 return covering April to June will be due shortly after month end. Start pulling your records together now rather than scrambling after 30 June.

Even if there is nothing to report, you are still required to lodge a BAS for each period while registered for GST. A nil lodgment takes only a few minutes and keeps your obligations current.

Supplier Contracts & Costs

EOFY is a natural trigger to review your key supplier agreements, including pricing, terms, and service levels. With cost pressures still a reality across the sector, it is a useful moment to have those conversations before another year rolls over.

Licences & Insurance

Check renewal dates on your public liability, workers' compensation, and business insurance. Confirm all licences including liquor, food safety, and trade waste are current and that any upcoming renewals are in the diary.

Card Surcharges

Excessive card surcharges on EFTPOS, Visa, and Mastercard were banned from 1 January 2026. If you have not reviewed your payment settings recently, do it now before compliance activity increases.

R&CA members can access HR advice, legal support, and industry resources through the member portal. LINK

Where quarterly super and Payday Super meet

July 2026 marks the start of one of the biggest changes to super in decades: Payday Super.

In July, employers will need to manage both their final quarterly super payment and their first Payday Super payments.

To support employers, the ATO has released new guidance and a short video explaining how super payments are managed across the June–July changeover period.

Watching the video and taking steps now will help you understand what’s changing and support a smoother transition.

Visit ato.gov.au/paydaysuperchange for the video, practical examples and further resources.

Super guarantee charge statements are due by 28 May

Did you miss the super guarantee (SG) due date? If you didn’t pay SG contributions in full, on time and to the right fund, you’ll need to lodge a super guarantee charge (SGC) statement and pay the SGC to the ATO by 28 May or penalties may apply.

If you’re not sure how much SGC is payable, use the ATO’s SGC calculator. There’s also a guide on how to complete the SGC statement.

This will be the last time you can use the late payment offset (LPO). The LPO won’t be available for any late SG payments for the June quarter due 28 July.

Reminder: From 1 July Payday Super starts, which means employers must pay super for each payday.

If you currently use the Small Business Superannuation Clearing House (SBSCH), it’ll permanently close on 1 July 2026.

For all the latest information on Payday Super, visit ato.gov.au/paydaysuper.

Get extra time to lodge your March quarterly business activity statements (BAS)

Businesses may receive extra time to lodge their March quarterly BAS, depending on how they lodge including:

• 2 extra weeks when lodging online, with BAS due by 11 May, or
• 4 extra weeks when lodging through a registered tax or BAS agent, with BAS due by 26 May.

Lodging BAS online is a secure and convenient way for businesses to manage their tax obligations.

Even if there’s nothing to report, you’re still required to lodge your BAS for each reporting period while you’re registered for GST. A ‘nil’ lodgment only takes a moment to complete and keeps your obligations up to date. Businesses that regularly lodge ‘nil’ BAS should consider whether they still need their GST and other registrations.

For more information, visit ato.gov.au/lodgingactivitystatement or seek advice from a registered tax or BAS agent.

Get tax-time ready with ATO Tax basics video series

The ATO’s new Tax basics for Small Business video series explains essential tax, super and reporting obligations to support small businesses at every stage - using short, plain English videos to address common topics and questions.

The series covers key topics including good record keeping, business deductions and home-based business expenses, which are particularly important topics when preparing for tax time and meeting your obligations.

Watch the full Tax basics for small business video series at ato.gov.au/SBtaxbasics.

Refreshed guidance for Online services for business

The Australian Taxation Office has updated its Online services for business user guide to support small businesses complete reporting, lodgments and payments online.

The updated guidance includes step-by-step instructions to manage tax registrations such as GST and PAYG withholding, and for authorising a tax agent or provider to act on a business’s behalf. See the Online services for business user guide for more information.

The ATO is stepping up compliance action on omitted income

Since July 2025, the Australian Taxation Office (ATO) has audited 300 small businesses, uncovering more than $70 million in unpaid taxes and issuing over $26 million in penalties to those deliberately omitting or under‑reporting income.

With more than 1,000 weekly tip‑offs and sophisticated data and analytics, the ATO continues to identify businesses hiding income.

The ATO urges small businesses to meet their obligations to avoid penalties and maintain fair competition. For more information, visit ATO focus areas for small business.