EOF terminations
Hello
We sold our business during this last financial year. Our staff stayed on with the new owners.
In the EOF single touch payroll, do I have to report the staff as being terminated?
Lindy
Forum Discussion
1 Reply
Hi Wilfords ,
This can be quite tricky. Generally, if there is no change in the ABN and business details, you do not need to report employees as terminated for STP. However, if the agreement involves resetting entitlements or paying out unused leave, you must process final payments and report them through STP. The new owner can then reinstate the terminated employees before their first pay run.
Feel free to post again, we're happy to help!
Regards,
Earl
