Forum Discussion

Zoya's avatar
Zoya
Experienced Cover User
3 years ago
Solved

Payroll period from 25th June to 1st July 2021 should counted for which financial year?

Hi, I am using AccountRight Plus AU 2021.3.0 I am processing payroll for the period: 25th June to 1st July 2021 today, I thought, this pay should be counted for 2021-2022 financial year, but when I...
  • Steven_M's avatar
    Steven_M
    3 years ago

    Hi Zoya 

     

    Generally speaking, it's the payment date that determines what payroll year the pays falls in and what applicable superannuation rate should be used. As such, if that payment date falls on or before 30/06/2021 then you should be used 9.5% otherwise for pays on or after 1/07/2021 it would be 10%. 

     

    Do check out Super guarantee rate increase 1 July 2021 for more information on this topic and how to deal with that super rate change in your software.

Steven_M's avatar
Steven_M
Former Staff

Hi Zoya 

 

Generally speaking, it's the payment date that determines what payroll year the pays falls in and what applicable superannuation rate should be used. As such, if that payment date falls on or before 30/06/2021 then you should be used 9.5% otherwise for pays on or after 1/07/2021 it would be 10%. 

 

Do check out Super guarantee rate increase 1 July 2021 for more information on this topic and how to deal with that super rate change in your software.

Zoya's avatar
Zoya
Experienced Cover User
3 years ago

Hi Steven,

thank you for the replay, employers paroll period: from Friday to Thursday each week, therefore, this payroll fulls on 1st July 2021 (pay day is tomorrow 2nd July),  I thought super should be 10%, not sure why still showing 9.5%.

I am calling MYOB help desk, being waiting on phone for 30 minuts, still no one picking up, so frustrating.

 

much appreciated

 

Zoya