PAYG Payment Summaries
PAYG Payment Summaries are required to be prepared annually and provided by your employees no later than 14 July and can be prepared once you have completed your final payrun for the current financial year and after all reconciliations to confirm accuracy are complete. Once we are satisfied the payment summaries are ready for submission and we have received your authorisation, we will submit the payment summaries to your staff via email.
Now may be a great time to ensure that the employee details in your Xero file is up to date – particularly their email address. Please advise your employees that the summaries are not due to be provided to them until 14 July, and although we typically do have them delivered well before the due date, we would request they check their junk/spam folder in their emails prior to contacting us, and only contact us after the due date if they have not received their summary.
After the payment summaries have been prepared and provided to your staff, a PAYG Payment Summaries Annual Report needs to be provided to the ATO by 14 August however, we find that it is more efficient to lodge this report concurrently with preparation of the payment summaries.
Tashly Consulting Xero Bookkeepers Adelaide are Registered BAS Agents #86318001 and we are dedicated to providing seamless, high-quality, transparent bookkeeping services – If you would like any further information please contact us via telephone (08) 8121 4424 or via email.
Tashly Consulting Xero Bookkeepers Adelaide – Not your average Bean Counter!
Disclaimer: All or any advice contained in this blog/newsletter is of a general nature only & may not apply to your individual business circumstances. For specific advice relating to your specific situation, please contact your accountant or other professional adviser for further discussion.