Final STP reported and paid 30th June, 2019 but bank statement says 1st July, 2019

Larissa_7048652
Larissa_7048652 Member Posts: 36 Reckoner Reckoner
edited October 2024 in Accounts Hosted
Hi everyone,
I thought I'd throw this out the Brains Trust (as my brain hurts..)
I have a client who submitted their final pay run and paid it on the 30th of June.
That's fine..
However, the bank shows that the payment went through on the 1st of July..
Should I worry about it?  
Regards
Larissa

Comments

  • John Graetz
    John Graetz Member Posts: 1,663 Reckon Star Reckon Star
    edited July 2020
  • Kris_Williams
    Kris_Williams Member Posts: 3,719 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2020
    Not at all it’s simply the equivalent of the old outstanding cheque, drawn in one month and presented in the other
  • John Graetz
    John Graetz Member Posts: 1,663 Reckon Star Reckon Star
    edited July 2019
    That might be ok from the employers point of view, Critters222, but over many years the ATO has highlighted the fact that a payment is only deemed to have been made to the employee on the date that they receive it. I would find it impossible to believe in this case that any employee would have received their payment on Sunday 30/6/2019.   As I said earlier, professional advice should be sought.  John L G
  • Larissa_7048652
    Larissa_7048652 Member Posts: 36 Reckoner Reckoner
    edited July 2019
    I just spoke to ATO.  Yes - it's on the actual physical date the payment comes out of the bank.  I was instructed to do an update with the correct date so it goes into this financial year and then do another finalistion..
    Thanks everyone for you help.
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