That money in your account isn’t all yours – and if you’re a tradie running a team, some of it has already been promised to people and organisations you haven’t paid yet. 💸
Running a trade business in Australia means this is just the reality. Jobs stack up, invoices go out, money lands in the account, and things can look like they’re ticking along fine.
But sitting inside that balance right now is GST you’ve collected on every job, PAYG held back from wages, super you owe the boys for last quarter, and a tax bill quietly building in the background.
None of that belongs to you. All of it is already spoken for.
What’s Hiding in Your Bank Balance
Here’s a rough picture of where the money goes before it’s actually yours.
GST
If you’re registered for GST, 1/11th of every dollar you invoice belongs to the ATO. Every time you send an invoice, you collect that money on the government’s behalf. When BAS rolls around – 28 October for Q1, 28 January for Q2, 28 April for Q3 – it’s due. Whether it’s sitting in your account or not is your problem, not theirs.
Most tradies know GST is in there somewhere. The issue is they haven’t put it aside. So when BAS comes in, it feels like a hit – when really, that money was never theirs to spend.
PAYG Withholding
Every time you pay wages, you hold back tax on behalf of your workers. That money heads to the ATO through your BAS or on a separate cycle, depending on your payroll setup. Either way, it doesn’t belong to the business.
Super
From 1st July 2025, the Super Guarantee rate rose from 11.5% to 12%. That’s the final scheduled rise, and it applies to every eligible worker on your books. 🔑
Here’s what that looks like in practice: five tradies each earning $1,500 a week in ordinary time earnings adds up to around $3,600 in super every single quarter for that crew alone – before any other staff costs.
Super falls due quarterly for now. Miss the deadline, and the ATO’s Super Guarantee Charge kicks in – and that costs far more than simply paying on time.
For FY2025-26, the quarterly super deadlines are:
- 28th October 2025 – Q1 (July to September)
- 28th January 2026 – Q2 (October to December)
- 28th April 2026 – Q3 (January to March)
- 28th July 2026 – Q4 (April to June)
Most of these have already passed, but it’s worth knowing: Super has to physically clear the fund by 30th June 2026 to count as a tax deduction for this financial year. Miss that date, and the claim goes with it. ✅
Income Tax
A profitable trade business builds a tax bill throughout the year. Unlike wages, nothing takes it out automatically – it adds up in the background and comes due at year-end or through PAYG instalments.
The bank balance never shows any of that. It just shows a number.
The EOFY Trap
30th June 2026 marks the end of FY2025-26. ⏰
For tradies, EOFY feels like a surprise every single year, and the reason it stings is usually the same. Money that should have gone aside for BAS, super, and tax got spent during the year because it looked available. A big materials bill in April. A ute repair in May. A quiet patch where the float kept things ticking.
None of that shifts the due dates. The ATO runs to fixed deadlines regardless of how the year played out.
That’s exactly why the bank balance makes a terrible guide for spending decisions. It shows you the total. What it doesn’t show is how much of that total is already claimed.
A Real-World Scenario
Picture this: it’s a Tuesday night. 💡
You’ve had a good run. Three big jobs wrapped up last month. Money’s in the account. One of the boys mentions the work van is getting old and asks if you’re thinking of replacing it.
You check the balance. Looks healthy. You think, “Yeah, we could probably swing it.”
But here’s what’s already in that balance:
- GST collected across the last three months of invoicing
- PAYG held back from the last two pay rounds
- Q4 super for all staff – not yet sent to their funds
- A tax bill from a profitable year sitting quietly in the background
None of that is yours to put towards a new vehicle.
This is the moment when a lot of trade businesses quietly start getting into trouble. Not because the owner makes reckless calls – but because the bank balance handed them a false picture.
FY2025-26 Key Dates Worth Knowing
Here’s a snapshot of the remaining major compliance dates for the current financial year. Save this. 📌
| Date | Obligation |
|---|---|
| 30th Jun 2026 | Financial year ends – super must be paid to count as a deduction |
| 28th Jul 2026 | Q4 BAS due (Apr-Jun) + Q4 super contributions due |
For the full picture, the ATO’s key dates for business are worth bookmarking.
What Actually Helps
The tradies who stay on top of this aren’t financial experts. They just keep a clear view of what’s theirs and what isn’t. 💪
A few things that make a real difference:
Set money aside as you go. When a big payment lands, a chunk of it already belongs to the ATO. Some tradies hold GST, super, and tax in a separate account, so the main balance only reflects what’s actually free to use. It removes a lot of guesswork come BAS time.
Factor super into the payroll conversation. With the rate now at 12%, the numbers are higher than last year. Super deserves a spot in the cashflow plan as a regular quarterly cost – not a figure that turns up as a surprise on the due date.
Keep Xero close to real time. The tighter the books match what’s happening in the business, the clearer the picture of what’s genuinely available. Bank feeds left unreconciled for weeks cause the numbers to drift – and spending decisions end up based on guesswork.
For a practical look at how to run the books on a steady weekly rhythm, this post on proactive bookkeeping for tradies covers exactly that.
The Simple Shift That Changes Everything
Becoming an accountant isn’t the answer. Neither is spending every evening in Xero, stressing about every dollar.
The real shift is stopping the bank balance from being the final word on what’s available.
The balance is just a total. Your actual position – what’s yours, what’s owing, what’s coming due – lives in the books. When someone keeps those books clean and current, BAS stops being a shock, super stops sneaking up, and tax doesn’t blindside anyone at year-end. 📊
That’s the difference between a tradie who always feels a step behind and one who actually knows where they stand.
The Bottom Line
That money in your account isn’t all yours. Part of it belongs to the ATO. Part goes to your team’s super funds. Another part covers the income tax the business has earned through the year.
Getting a clear picture of what’s genuinely yours to spend leads to better decisions – and means BAS season stops feeling like a punch in the face every quarter.
Whether you’re running jobs across Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart, Darwin or anywhere beyond, the rules stay the same. The ATO doesn’t adjust for a busy run of work.
Want to know what’s actually yours in your account right now? 👉 Get in touch with Tradies Bookkeeping for a no-drama conversation about getting your numbers sorted.