End of payroll year tasks in Australia

https://help.myob.com/wiki/x/7g32BQ

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Australia only

At the end of the payroll year (EOPY), 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.

Need some guidance?

Learn everything you need to know about end of payroll year with our free eLearning, or watch the in-depth guided tour video to the right. 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 and report them to the ATO. If a pay period includes dates in June and July, it's the payment date that determines which payroll year it belongs to. Need a payroll refresher? If needed, fix any incorrect pays.
2	Run some key reports to make sure your payroll information in MYOB 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.

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 happens now?

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 for you, ready to use. Also, the super guarantee rate increases to 11% on 1 July 2023, but we have you covered – find out how to automatically stay compliant with your superannuation obligations.

See you in 12 months...

End of financial year in Australia

Staying compliant with super guarantee rate increases

Removal of the $450 earnings threshold for super

Find more payroll resources

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What happens now?

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