STP

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  • Updated 4 months ago
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My boss wanted to finish the financial year on the 01/07/18 so i made payment summaries for the 01/07/17-01/07/18 which was all good . It all worked ok but now when i have done my first STP file we 08/07/18 i notice that the year to date figures have the we 01/07 and the we 08/07 . 
I dont want the we01/07 in this financial year: they were put in the 17-18 financial year.

Sharon.
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Sharon Cowley

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Posted 4 months ago

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John G, Information Support Analyst

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Hello Sharon,

Thanks for asking.

Although you are able to specify whatever period for your financial reporting, for tax purposes its the ATO that determines the tax reporting period, which ends on 30/6/yyyy.  Payroll Premier is designed for that reporting period only.  Furthermore, the ATO specifies that the period income was earned is defined by the date is was paid to the employee - so if work done 24-30 June is paid on 1 July, then it is deemed as earned in the the next financial year.

Payroll Premier is reporting as intended and as required by the ATO.

If you want to show the pay of w/e 1/7/2018 in the FY 2017-18, then it must be paid on or before 30/6/2018.  


I hope this explains the situation.


regards,
John
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Sharon Cowley

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Thanks John,
Yes I thought this and have redone the payment summaries  for 30/06. 
Sharon.