Salary Sacrifice & STP + Starting STP before End of Financial Year

JX
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JX
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Salary Sacrifice & STP + Starting STP before End of Financial Year

1. What to assign for Salary Sacrifice Super? 2. If we start STP before end of Financial Year, what will happen for the Payroll Summary Report?

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MYOB Moderator Neil_M
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Neil_M
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Re: STP

HI @JX 

 

Generally speaking whatever the category was reported as in previous payment summaries is often the category to report it under for STP. That said if you weren’t sure, I’d recommend speaking with the ATO or your accounting advisor on which category to assign it as.

 

If you sign up for STP before the end of this payroll year then you can start reporting for those employees using STP. For those employees you won’t need to issue them a payment summary at the end of the year, as their year to date information will have been reported through STP.

 

For employee’s that have already left you will need to produce a payment summary for them, or alternatively you could do a zero dollar pay for them after signing up to STP to report on their figures to the ATO

Regards,
Neil

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