6 Housekeeping tips for End of Financial Year
                     6 Housekeeping 
tips for End of 
Financial Year
Fixing any configuration settings or invalid data before 
you start end of year processes will mean your clients 
will have less reconciling to do after the final pay run of 
the Financial Year.
1. Have you checked employee details?
Ensure employee name, address, date of birth and Tax 
File Numbers are valid. If an employee’s Tax File 
Number has been entered as ‘111111111’, you should 
make sure you contact the employee for the correct 
data. By making sure that data is correct, it’ll save you 
from having to resubmit STP finalisation.
2. Have you checked approved working holiday makers?
Do your clients have approved working holiday makers 
in their business? Check if their employee’s working 
holiday maker flag is correct. This can be done on the 
employee’s tax file declaration page.
3. Do you need to report Fringe Benefits Tax for any 
employees?
Make sure you’re familiar with their reporting 
requirements. You can easily report FBT for each 
employee via Single Touch Payroll as an STP event, or 
via payment summaries if the client isn’t yet using STP.
4. Have you allocated the correct STP classification to 
pay categories?
Ensure you have your pay 
categories/elements/allowances set up with the correct 
STP classification. These classifications will determine 
whether earnings should be reported as gross earnings 
or allowances etc., or whether they shouldn’t be 
reported (e.g. living away from home allowances).
6. Ensure you’re set up to increase the SG rate
The legislated Superannuation Guarantee (SG) rate will 
increase from 9.5% to 10% from July 1 2021. You can 
rest assured we will be applying this increase 
automatically. However, there are exceptions if:
The ‘Automatically update super rates’ checkbox is not 
ticked in Payroll Settings.
The ‘Override’ checkbox in the ‘Super rate’ column in 
an employee’s Pay Rates screen is ticked
The ‘Override’ checkbox in the ‘Super rate’ column of 
any pay rate template is ticked
Ensure your settings are changed accordingly if you 
want an automatic update!
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