Pay Award Increase - clarify 'First Full Pay Period'

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Kyle
Kyle Member Posts: 35 ✭✭

Hi All, this is not so much a question about Reckon but wondering if anyone had any clarification (or opinions) on the ruling of the first full pay period in July. I have read numerous sites of information but am finding it a bit of a grey interpretation, even the accountants can't clarify. We pay fortnightly with our first pay in July ending today (paid tomorrow), so there are 8 days of June & 6 days of July in this pay period.

Is the 'Full' referring to today's fortnight being a full pay period ie. the whole f/night paid at the new rates, super etc. regardless of the period having June working days in it..

..or is it all paid at the old rates as it isn't 'Fully' July working days?

..or is the 'Full' meaning that my next fortnight will start at the new rates as that fortnight will be 'fully' and only July working days??

Interested to hear everyone else's interpretation please.

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 3,393 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    Even if pay ends on 1/7 it goes into 2022 - 2023 financial year. In my opinion

  • Kyle
    Kyle Member Posts: 35 ✭✭
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    Thanks for your reply Kris.. yes I agree, it would definitely go into the 2023 financial year but I am actuall asking whether I pay my employees at the old pay rates or the new pay rates, super 10.5% etc. which came out on 1st July?

  • Kris_Williams
    Kris_Williams Member Posts: 3,393 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    New super rates as it’s a 2023 pay

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,678 Community Manager Community Manager
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    Just adding to the above, from an STP perspective, its the pay date that is the determining factor as opposed to the pay period. Super rates that are payable are determined by the pay date and where that falls.

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,482 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    The pay increase rules are different to the increased super rules.

    The pay increase applies to the first FULL pay period paid in July. Therefore if part of the pay period was for June, the pay increase won’t apply until the next pay run.

    HOWEVER, the super increase does apply to that first July pay, regardless of the pay period it relates to.

    Hope that clarifies ☺️

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • John Graetz
    John Graetz Member Posts: 1,653 ✭✭✭
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    I agree with Shaz. It is generally understood that the first FULL pay period in say July, is the one which has no days in it which relate to June, in other words the pay is only for days worked in July. John L G

  • Kyle
    Kyle Member Posts: 35 ✭✭
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    Thank you all for the feedback, much appreciated.