Last pay run for 22/23 FY
Clarification needed please.
My last pay period for 22/23 financial year wont be paid until 4th July. Do i include this in my 22/23 eofy reporting or will it the first report for the new financial year. ie: the pay run being processed next week on 27th June will be my final for 22/23 FY.
Thanks in advance
Best Answer
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Hi Jo
Payroll is always based on payment date - eg Payments made within a specific FY - regardless of the pay period. Therefore, a pay dated 04/07 will be included in next FY (2023/24) 😊
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Answers
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Perfect. Thanks Shaz. Much appreciated.
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Hi Shaz
Could you please clarify something for me. Based on our conversation above, with the minimum wage increase and new tax table in effect from 1 July, my employees will be paid at their new rate for the last week of June as the pay date will be 4th July.
Thanks
Jo
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Hi Jo
The increase actually only applies to the first FULL PAY PERIOD in this new FY so you don’t need to do it in this pay as it’s for the last week of June ☺️
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