PAYROLL PREMIER CHANGES THIS COMING 22/23 FINANCIAL YEAR

JANE
JANE Member Posts: 9

Hi Rav,

I have a number of questions that I need answers regarding STP reporting, new tax table, changes regarding superannuation etc for Payroll Premier. Unfortunately, time does not permit me to attend the webinar.


1)     Our next pay run for this financial year ends on 29/6 /22 and next pay run is 6/7/22. So, is it my understanding that I am to lodge two STP reports? One normal for the pay run 29/6/22 and another one for EOFY finalisation on 6/7/22? You see there’s a crossover between financial years here.

2)     Is Payroll Premier 2022-23 available to download yet? I haven’t seen anything to indicate it’s available. I ask because I will have to install it before next pay run on 6/7/22. Will the 22/23 new tax table be included or is that a separate thing to download?

3)     Regarding the new tax table, how does this affect the EOFY finalisation STP report. How will things like the right tax deducted as I have indicated there’s a crossover between financial years in our payroll.

4)     Regarding superannuation, I know that it will increase from 10% to 10.50% as of 1/7/2022. How do I sort out the right super to pay as like with tax, there’s a crossover between financial years in our payroll.  

As I explained earlier, our next pay run ends for this financial year on 29/6/2022. I want to be sure I am paying and reporting the right amount to the ATO.

I hope I have explained myself clearly and thank you in advance. If I need any further assistance, what is the best telephone number to call about this?

Answers

  • Rav
    Rav Administrator Posts: 12,169 Community Manager Community Manager

    Hi Jane,

    I'll do my best to answer your questions below;

    • Its the pay date which is the determining factor for your STP submissions. I think any crossover you may be referring to will come from the pay period rather than the pay dates. So for the upcoming pay that you've mentioned, if 29/6 is the pay date and is also the last pay of the financial year then the next one on 6/7 will fall in the new financial year and must be actioned in the new edition once its available.


    • Payroll Premier 2022/23 is due for release early next week. We'll be sending through emails and I'll also have announcements here on the Community as well as soon as its live.


    • As above its the pay date that is the determining factor when it comes to STP only.


    • The upcoming 2022/23 edition of Payroll Premier will automatically update the settings for super threshold and statutory super % in the Preferences window. Any pays with the a pay date of 1 July 2022 onward will need to be run in the new edition.