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AccountRight Plus and Premier, Australia only
End of payroll year has never been easier.
If this is your first time, you'll find there's not much you need to do. If you're an old hand at payroll, you'll notice there's now a lot less to do.
First, make sure you're using the latest AccountRight version. This gives you access to the latest features and helps keep you compliant.
What you need to do
At the end of the payroll year, you simply need to ensure you've paid your employees up to June 30 and finalised your STP payroll reporting with the ATO.
Enter all pays up to 30 June. If a pay period spans the payroll year, it's the payment date that determines which payroll year it belongs to. Need a payroll refresher?
Check the year-to-date amounts you've sent to the ATO for the payroll year. You can do this in the Single Touch Payroll reporting centre (Payroll > Payroll Reporting > Payroll Reporting Centre).
Finally, let the ATO know you're done for the year by finalising your Single Touch Payroll information. Do this by July 14.
Once you've finalised, your employees will be able to log into my.GOV to complete their annual tax returns.
What's happens now?
You no longer need to close the payroll year, prepare payment summaries (STP finalisation replaces this), or load new tax tables (this happens automatically).
Super rate increase from 1 July
The superannuation guarantee rate increased to 10% from 1 July 2021. Check your super rate.
And that's it—you're done for another year!
See you in 12 months...