Superannuation Guarantee is in increasing from the 1st of July, what do I need to do?
When you open your first payroll, dated in the new financial year, CloudPayroll will automatically update the rates for you.
The new rates applied to any payment made from the 1st of July, regardless of the pay period you are paying your employees for.
Note: if you need to process a back dated payroll, dated prior to the 1st of July, you will need to manually adjust the superannuation guarantee in the payroll back down to the previously rate (if applicable).
We missed entering a payroll in the last financial year, how do I process this?
- Go to Payroll > 1. Open and either a one-off payroll, or your normal pay cycle, with a future date.
- Enter the data
- Email help@cloudpayroll.com.au requesting this payroll (include the payroll number) be back dated to xx/xx/xxxx and for us confirm it on your behalf.
You will need to check the super and PAYG are correct, as the new tax and super rates will have been applied.
Tax rates are changing, do I need to do anything in CloudPayroll to update these?
CloudPayroll will automatically update all new tax changes when you open your first payroll in the new financial year.
Where do I find my employees Payment Summary?
With the rollout of Single Touch Payroll, Payment Summaries have been made redundant.
As an employer:
- If you are after all employee data that has been reported to the ATO, we recommend going to Tax > STP Update/Final Event. The data on this screen (more information once downloaded into excel), is what has been sent to the ATO, through the processed pay runs.
- If you are after just one employee’s income, please go to People > View People > click on the employee in question > hover over Pay History and down to Tax YTD Summary.
For your employees:
- Employees can view their Tax YTD Summary through the Pay History tab of their payslip kiosk.
My employee can not see their income statement in their MyGov account?
Check the employees details are correct on their personal details page in CloudPayroll and update where required. Their Tax File Number and Date of Birth are two fields the ATO use for matching. If there is incorrect data, please update this and then resubmit your STP Final Event.
We also recommend checking your employees Employment Basis is correct (Reports > HR > Personal Details' Tax Details), and terminating any employees who are no longer with the business, both these fields are shared with Services Australia.
We have 53 weekly pay periods in this new financial year, will this impact my employees?
This will also apply for fortnightly payrolls, with 27 fortnightly pays in one year.
Yes, this will impact your employees tax withheld at the end of the financial year. The ATOs tax calculations only assume there is 52 weekly/26 fortnightly pay periods in one year, so their withholding amounts only account for this.
When this happens, we recommend letting your employees, they may be concerned about a shortfall and request you to withhold additional PAYG throughout the year. Each year the ATO releases rates, to assist with these additional PAYG amounts, should your employee choose to withhold additional PAYG from their pay. You can find these rates in the
following link.
If your employee choses to withhold additional PAYG, you can add this to the employees Timesheet Template by selecting APAYG - Additional PAYG, the quantity will be 1 and the rate the additional amount to withhold.