Contents
EOFY Tasks
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 STP) 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.
EOFY Submission
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.
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Important: All organisations are required to report to the ATO via STP. |
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Note: Due to the impacts of COVID-19, if you need additional time, the ATO has allowed you to complete your STP finalisation up until 31st July 2021. However, it is important if you can to finalise your employees' data by 14th July if you can, and let your employees know when you have so they can lodge their income tax returns. |
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.
Enabling STP
If you have not already done so, you must 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.
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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. |
Superannuation
Payment of Early Superannuation June 2021
Due to super funds being unable to guarantee that monies will be processed in time for EOFY if received after 15th June, the cutoff for payment of early super by CloudPayroll will be different this year.
If you would like your June Superannuation paid early, you will need to have processed the payrolls and informed CloudPayroll by Tuesday 8th June 2021. This will give the funds sufficient time to clear. We strongly advise that, if possible, you process additional super payments in May payrolls prior to the end of month as the most foolproof method of ensuring your funds are received in time.
The fee for the early processing of superannuation is $45.00 + GST.
If processing by end of May 2021 or June 8th 2021 is too early, CloudPayroll will not be able to manage your early payment of super. However, you can still submit your super early via your nominated employer fund as explained below:
- Contact CloudPayroll to move across the payrolls you want to pay yourself to superannuation setting “Managed by Yourself” (this is to ensure they aren’t also debited and paid in the July 2021 debit).
- Download your Super Remittance SAFF file for the month from Reports > History > Superannuation Remittance > Create SAFF File, and contact your superfund for processing.
| Note: If you need to open the SAFF csv file, please open this file with Notepad. Opening the file in Excel will reformat some of the contents in the fields making it unusable. If you accidentally open the file in Excel, you will need to download a new copy of the file. |
New Financial Year Changes
The new tax tables and superannuation (if applicable), and any other changes, will be updated automatically, so when a payroll dated in July is open, the changes will be applied.