Single Touch Payroll (STP) Finalisation Deadline

STP Finalisation is different from regular reporting. It involves reviewing your payroll data, reconciling discrepancies, and making necessary adjustments before the final submission to the ATO. This ensures accurate income statements for your employees

Action Required:

  • Review payroll data: Check allowances, deductions, and employee details for accuracy.
  • Make adjustments: Correct any errors or discrepancies in your payroll system.
  • Complete STP Finalisation: Follow software instructions or contact us for guidance.
  • Submit before the deadline: Ensure the finalised STP report is submitted by July 14th.

Superannuation Contributions Payment Reminder

Superannuation contributions for the April to June quarter are due soon. Remember to allow for processing through the clearing house. Late payments can result in Superannuation Guarantee Charge (SGC) penalties.

Key Points:

  • Due date: 28th July

  • Clearing house processing: Allow sufficient time for payments to clear (at least a week is recommended).
  • Penalties: Late or non-payment may lead to SGC penalties and interest.
  • Take action: Ensure all pay runs for the period have been processed and are accurate.

For assistance or questions about superannuation payments or the clearing house, reach out to our team.

Alchemy Accountants is here to help you stay compliant and ensure a responsible business operation.

Alchemy Accountants provide both bookkeeping and accounting services to a range of industries. If you are looking for a bookkeeper/accountant that understands your business, please reach out to us. If you only see your accountant once a year, it may be time to find a new one.

We will work closely with you towards business success. Contact us for a FREE consultation.

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