This checklist covers:
- EOFY Tasks
- EOFY Submission - With STP
- Enabling STP
- EOFY Submission - Without STP
- New Financial Year Changes
After your last pay run dated in June, please check that Taxable Earnings and PAYG totals balance to match the amount reported and paid to the ATO. If there is a difference, submit a variation and pay the balance.
Add any Reportable FBT amounts to be reported on employees’ Income Statements in myGov (or Payment Summaries preceding STO) prior to, or in the last pay run, with a pay dated in June, if not already done so. (Use the ‘Payment Summary only’ Pay Element, FBT). This will then be included in your employees’ Income Statements.
If you are STP enabled, you do NOT need to provide Payment Summaries to your employees or the Payment Summary Annual Report (PSAR) to the ATO. You will instead need to process a Final event for the tax year by going to Tax > STP Update Event by 14th July.
Note: If you started STP reporting in the 2019-2020 year, and you have 19 or fewer employees, you have until 31st July.
Employees can access their finalised Income Statements from http://my.gov.au.
For instructions on completing a final event for Single Touch Payroll see the Process a Final Event article.
If you have not already done so, you can enable STP.
- In CloudPayroll, go to Tax > Tax Options.
- Scroll to the Single Touch Payroll section and select the Use Single Touch Payroll checkbox.
- Click Save.
A success message displays.
Note: If you do not see an error message at the top of the page instead of a success message, fix the errors listed and try again.
If you are NOT STP enabled:
- You should start reporting now unless you have applied for a DEFERRAL or EXEMPTION.
- Check that the correct authorised person is selected as a Tax Contact on the Setup > Organisation page (located at the bottom under emails and contact details). Make the required changes and save.
- The 'Draft' message on the payment summaries will display until 30th June inclusive and will automatically be removed on 1st July. If you would like to extend the time before the draft message is removed, please go to Tax > Tax Options and scroll down to Payment Summary and tick ‘Keep as draft?’.
- If you wish to only extend time for individuals, go to an employee’s Personal Details page. select View Advanced Tax Details under Tax Details section, tick 'Keep Payment Summary as draft until end of calendar year?’ and click Save. This will need to be unticked when the employee's Payment Summary is ready.
- Inactive or terminated employees’ payment summaries should be sent, to be received by the ATO by the 14th July. These can be found in Reports > Tax > Payment Summaries (Inactive Staff).
Note: The draft message automatically disappears after the employee’s termination date.
- Lodge Payment Summary Annual Report (PSAR) file to the ATO by 14th August. This can be accessed from Reports > Tax > Payment Summary Annual Interface and follow the instructions. Please refer to ATO website on instructions on how to lodge your PAYG payment summary report.
If you wish to prepay superannuation before 30th June, please contact firstname.lastname@example.org or call (03) 9670 0422 to arrange a form to be filled out, signed and returned to CloudPayroll ASAP.
Payrolls with payday date up to and including 23rd June will be sent prior. Anything after this day will be sent as part of the standard superannuation process.
If the superannuation is to be paid prior to 30th June, there will be a $45.00 + GST fee applied.
The new tax tables (if applicable) and any other changes will be updated automatically, so when a payroll dated in July is open, the changes will be applied.