In this topic
- Introduction
- How Do I Order My Income Summaries?
- When Do I Submit My Order?
- How Long Does it Take to Produce Payment Summaries?
- Are all payments report on an Income Summary/to the ATO?
- How Do I Enter Reportable Fringe Benefits Amounts?
- Can I Pay My Super Early?
- Do I need to produce income summaries under STP?
Introduction
This topic answers some of the frequently asked questions about Year End.
How Do I Order My Income Summaries?
Ordering your Income Summaries is a simple four step process:
- Confirm your Employer Details are correct
- Confirm your Employee Details are correct
- Add any Grossed Up Reportable Fringe Benefits Amounts and review the reconciliation reports
- Advise us how you want your Income Summaries produced
These steps and more thorough explanation are provided in the Year End Wizard help topic.
When Do I Submit My Order?
You should order your Income Summaries as soon as possible after you have run your last payroll for the financial year.
You must submit your order by the cut-off date listed in the Key Dates help topics.
How Long Does it Take to Produce Payment Summaries?
We aim to produce all Income Summaries within 24 hours of receiving your completed order. However, this can be delayed for several reasons for example:
- If you still have payrolls with an accounting date that falls on or before 30 June (we’ll take additional time to validate with you that the payroll does not need to be included in the Payment Summaries)
- If you order close to the order cut-off date (the closer it get’s to the cut-off date, the more orders we receive, which can affect our processing time)
Are all payments report on an Income Summary/to the ATO?
No, some payments do not need to be reported.
Unfortunately, Ready pay (powered by ePayroll) cannot advise you whether or not a payment needs to be reported via STP. Please consult the ATO or your accountant should you need further clarification regarding whether a payment should be reported to the ATO.
More information on what payments need to be reported via STP can be found at https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/payg-withholding/payments-you-need-to-withhold-from/payments-to-employees/allowances-and-reimbursements/withholding-for-allowances.
How Do I Enter Reportable Fringe Benefits Amounts?
You can enter any Grossed Up Reportable Fringe Benefits Amounts for each employee at Step 3 of the Payment Summaries process.
Refer to the Year End Wizard help topic for more details instructions.
Can I Pay My Super Early?
Yes. If we manage your super payment for you, we will communicate with you in early June to check if you want your super paid in June rather than July. This allows your business to claim a deduction for the super in this Financial Year rather than waiting until the end of next Financial Year. You will need to ensure that your June payrolls are processed before the cut-off date specified in our email communication to you.
If you pay your own super, then you will need to make your own arrangements for early payment of super.
Please seek independent Tax advice before processing your Superannuation early. {.bs-callout .bs-callout-warning}
Do I need to produce income summaries under STP?
It is not a legal requirement to provide an Income Summary to your employees if you have finalised your employees via Single Touch Payroll, providing that the STP data that has been finalised with the ATO includes all of the data for your employees.
However, many employers are choose to voluntarily provide an Income Summary to their employees to minimise confusion and questions from employees at year end. If you wish to provide your employees with an Income Summary, follow the instructions at Step 5 of the year end wizard. You can learn more about the year end wizard at .
