Payroll deductions EOFY - rollover to next financial year

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officeslc
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Australia
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Payroll deductions EOFY - rollover to next financial year

Good morning,

 

My question is in relation to the EOFY and payroll deductions.

 

Assume a deduction has been set up for, say, $50 per week, total of $500 that starts beginning June 2023.

 

So up until the end of June there will have been $200 deducted from the employee.  

 

When the financial year restarts, will the deductions continue until the remaining $ 300 is deducted and then the payment stops?

 

Or does the deduction need to be recalculated and re-set up on July 1st ?

 

Regards

 

Wen 

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