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AccountRight Plus and Premier, Australia only

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Superannuation guarantee changes from 1 July 2023

The mandatory superannuation guarantee rate increases from 10.5% to 11% from 1 July 2023. Find out how easy it is to stay compliant.

At the end of the payroll year, you simply need to make sure you've paid your employees up to June 30 and finalised your STP payroll reporting with the ATO.

If needed, you can record a pay in July before finalising the previous payroll year. Just remember you need to finalise your payroll information with the ATO by July 14.

To ensure everything goes smoothly, make sure you're using the latest AccountRight version. This gives you access to the latest features and helps keep you compliant.

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Need some guidance?

Learn everything you need to know about end of payroll year with our free eLearning. Also check our EOFY hub (myob.com/eofy) for key end of year dates and resources.

Task
1	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 that pay runs sent during the payroll year have been accepted by the ATO. If needed, fix any incorrect pays.
2	Run some key reports to make sure your payroll information in AccountRight matches what you've sent to the ATO for the payroll year. Learn about comparing reports and confirming STP amounts
3	If you terminated any employees during the year, make sure you've notified the ATO of the terminations.
4	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.

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Your business should now be using Single Touch Payroll (STP) phase 2 reporting to stay compliant with the ATO. If you haven't moved to STP Phase 2 yet, get set up now.

What's happens now?

There are some non-payroll related end of financial year tasks you should take a look at. After which, that's it – you're done for another year! No need to prepare payment summaries (STP replaces the need to do this), and the 1 July tax tables have been downloaded automatically for you, ready to use.

See you in 12 months...