Payroll for last week of June2024

Question

Just after the correct way to process my final pay of 23/24 as I'm confusing myself.

I process pays each Monday for the previous week, so I will be processing Mon 24/6/24-Sun 30/6/24 on Mon 1/7/24.

1 - Will this pay be included in 23/24 FY or 24/25 FY?

2 - Hours will be worked completely in June 2024, but paid on 1/7 so do i pay 11% or 11.5% super?

3 - How is MYOB programmed to deal with this? will it default to 11.5% super and the new payroll year, even if pay period is 24-30/6/24?.

Really just after a simple answer so i know I'm treating this week correctly. Also does it make a difference if i change payment date to 30/6? (I'd still be doing it 1/7 but change the dates to 30/6)

Thanks

gavin12345 · Answer

Hi KateB2012&nbsp;The 'simple' answer is that for an employee's pay, the key date is the 'Payment Date'. If you use 1 July 2024 as the 'Payment Date', the income will be included in the employees 2024/25 income statement and super is calculated as 11.5%. AR2024 will use the Payment Date to select the correct Payroll Year.&nbsp;When the employee worked does not matter. It is the date they are paid that matters.&nbsp;If not sure what date to use as the Payment Date - check with your tax advisor.&nbsp;RegardsGavingavinw222@gmail.com

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Payroll for last week of June2024

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