The critical point to note is when the wages are received by the employee in their bank account and not what the Pay period end date is in Sage MicrOpay. Ensure that your first pay in a new financial year after Change Tax Year must have a Payment Date of 1st of July or later.
The Payment Date is created when the EFT is created in Sage MicrOpay. Ensure that the first EFT created for your employees in the new financial year that the Date to be Processed by Bank field is the 1st July or later. The ATO uses this Payment Date to determine which financial year the values relate to. If you have a Payment Date of a date earlier than 1st July on the STP reporting screen and process to the ATO, the data from the STP Update from the previous financial year will be overridden in the employee MyGov account with the first pay of the new financial year.
If the employee receives the pay in the current financial year, then it must be included in the STP Reporting Final Update and on the Payment Summary if you will produce them this financial year.
Refer to this Sage Knowledgebase article for more information on Payment Date in Sage MicrOpay and scenarios:
Further information on payment dates can be found on the ATO Website here
If you find that the next financial year your Employees will end up having 27 fortnights or 53 weeks of pay, please review our Sage Knowledgebase article:
- Sage MicrOpay - Withholding for 27 fortnightly or 53 weekly pays in a year - for further details.
For more information on Change Tax Year review this Sage Knowledgebase article: