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Please note that our team will be attending a company-wide conference from Monday, 16 September to Friday, 20 September inclusive. We will continue to operate at a reduced capacity, however, live chat and phone support will be unavailable during this time and we may be slow to respond.
To connect with our customer care team, please submit a ticket via the HR or payroll platform.
To connect with our customer care team, please submit a ticket via the HR or payroll platform.
What you need to know for End of Financial Year.
Our team are here to support you with tips, advice and guidance in the lead up to EOFY.
Read the most frequently asked questions that are coming to our team. |
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We strongly urge businesses to lodge an update event (for each pay schedule) in preparation for EOFY. This will allow you to easily reconsile your data prior to your finalisation event and determine if there are any areas that need addressing prior to completing EOFY processing. |
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View this guide to ensure your system and employee settings are all correct. We also walk you through how to run a highly recommended RESC audit. |
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View our step-by-step guide on how to complete the end-of-year Reconciliation in Employment Hero. |
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View our step-by-step guide on how to process finalisation events using the EOFY wizard in the platform. |
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Watch our video outlining the STP finalisation process. |
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Click to view our practical guide to help you submit support requests in the best possible way, for the quickest possible resolution during this busy time. |
Hot Tips
Some things to note for EOFY.
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There are 10 common reasons you may experience issues when lodging an STP event, that can be classified as a Validation Warning or Lodgement Error. View our blog to find out more. |
There are several tutorials you can access that walk you through understanding the impact of STP Phase 2 reporting requirements. |
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If you are connected to both Employement Hero HR and Payroll platform, remember that the HR platform is your source of truth. Check out the list of fields that sync automatically from HR to Payroll. |
Lodging an Update Event
An update event is usually completed after the final pay run for the financial year. However if the update event highlights significant discrepancies, it’s better to have more time on your hands than less!
This is why we strongly recommend all organisations lodge an update event for each pay schedule (e.g weekly, fortnightly or monthly) now. If your reconciliations align, congrats! All that’s left is to complete your final pay run, lodge another update event and then complete the finalisation process.
If your reconciliations aren’t matching up, you’ll have plenty of time to troubleshoot using our resources below before finalisations are due for most employers on 14 July.
EOFY Calendar
May 2023
15
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Partnership & Trust Income tax returns are
due to be lodged.
Company income tax returns are due to be
lodged and paid.
- 2022 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups), and are not eligible for the 5 June concession, are due to be lodged.
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Companies and super funds are due to be
paid (if required).
Helpful Hint
Individuals and trusts in this category pay as advised on their notice of assessment.
21
- April 2023 monthly Business Activity Statement (BAS) is due to be lodged and paid.
- Final date to add new Fringe Benefit Tax (FBT) clients to your client list to ensure they receive the lodgment and payment concessions for their fringe benefits tax returns.
- Fringe Benefit Tax (FBT) Annual Return is due to be lodged and paid if lodging by paper.
28
- Fringe Benefit Tax (FBT) Annual Return is due to be lodged and paid if lodging electronically.
June 2023
5
-
Tax return for all entities with a lodgment
due date of 15 May 2023 if the tax return
is not required earlier and both of the following
criteria are met are due to be lodged:
- non-taxable or a credit assessment in the latest year lodged
- non-taxable or receiving a credit assessment in the current year.
Helpful Hint
This includes companies and super funds but excludes large/medium taxpayers and head companies of consolidated groups.
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Tax returns due for individuals and trusts with
a lodgment due date of 15 May 2023 are due to
be lodged,
provided they also pay any liability due by this date.
Helpful Hint
This is not a lodgment due date but a concessional arrangement where failure to lodge on time (FTL) penalties will not apply if you lodge and pay by this date.
21
- Lodge and pay May 2023 monthly Business Activity Statement (BAS) if lodging monthly.
25
- Fringe Benefit Tax (FBT) Annual Return for tax agents is due to be lodged and paid if lodging electronically.
30
- Superannuation Guarantee Contribution (SGC) payments need to be paid if you want to quality for a tax deduction in the current financial year.
- The financial year ends today! Prepare for end of financial year (EOFY).
- Pencil's down....time to wrap up your books for the 2022/23 financial year!
July 2023
1
- A new financial year begins today!
- Individual income tax returns are due from now until 31 October if preparing and lodging yourself.
- Sole trader/self-employed tax returns are due from now until 31 October if preparing and lodging yourself.
- Partnership tax returns are due from now until 31 October if preparing and lodging yourself.
14
-
Issue
Pay As You Go (PAYG) withholding payment summaries
to employees (as the employer).
- Note: this is in myGov for your employees if reporting with STP.
21
- June 2023 monthly Business Activity Statement (BAS) to be lodged and paid if lodging monthly.
28
- Quarter 4 (April - June) 2023 quarterly Business Activity Statement (BAS) to be lodged and paid if lodging quarterly.
- Super guarantee contributions (SGC) for Quarter 4 (April - June) 2023 are due to be paid.
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