These 2 checklists were developed last year with members also contributing.
I’m sure with 30 June rapidly approaching you will find them both beneficial.
1. End of Payroll Year Checklist : http://www.mcsa.org.au/index.php?option=com_docman&task=doc_download&gid=156&Itemid=218
The ATO has update the Guide to "How to Complete the PAYG Payment Summary" : http://www.ato.gov.au/businesses/content.aspx?doc=/content/00199564.htm
2. End of Financial Year Procedure Checklist : http://www.mcsa.org.au/index.php?option=com_docman&task=doc_download&gid=157&Itemid=218
So login to MCSA’s website and create an account : www.mcsa.org.au/admin_network
Within the Administrators’ Network Section, scroll down to login and choose “create an account”
Once you have confirmed your email and your account has been activated, you will be ready to start.
Then you are ready to click on “New Topic” and type in your question.
The following link is a file also available within the Forum “Help” menu, providing additional information on how to:
- Set up your profile
- General forum settings
- Creating new posts
- How to subscribe to topics
I have compiled this quick link page of useful MYOB support notes & links to help you get through the end of financial year processes:
- MYOB 2011/2012 Compliance Update is now available : http://myob.com.au/business/Compliance Update
- MYOB 2011/2012 PAYG Tax Tables download : http://myobaustralia._Compliance & Tax Tables
- MYOB End of Payroll Year Guide : http://myobaustralia_End_of_Payroll_Year_Guide
- MYOB Payment Summary Guide : http://myobaustralia Payment Summary Guide
- MYOB End of Financial Year Guide : http://myobaustralia_End of Fin Year Guide
- Search MYOB Support Notes for an answer : http://myobaustralia._question
Let your employees know they have until the 30th June to top up their super to receive the co-contributions.
For every after-tax dollar eligible members make to super, the government will contribute up to a maximum of $1,000.
This co-contribution only applies to *total gross income up to $61,920 for the 2010/2011 year.
- For gross income under $31,920 your contribution will be matched $1 for $1 up to $1,000
- For gross income $31,921 up to $61,920 the contribution entitlement reduces by 3.333 for every dollar you earn over $31,920
*Total gross income includes assessable income, reportable fringe benefits and salary sacrifice to super.
For further information on your eligibility to apply for co-contributions, contact your personal superannuation fund or refer to the ATO website.
The ATO also has a calculator to work out your co-contribution entitlement ATO co-contribution calculator.
Keep up to date with changes to awards & IR matters that are relevant to your organisation by subscribing to FWA.
FWA subscription services include:
- Awards – Updates only
- Award Matters
- Award Modernisation General Announcements
- FWA Bulletin
- Equal Remuneration Case
- Annual Wage Review
- Division 2B State Awards
- FWA Decisions
- and more …….
Simply create an account & sign up here: http://fwa.gov.au/apps/subscription_service/about.cfm
or call Fair Work Australia on Tel: 1300 799 675
Employers are required on an annual basis to declare their actual wages paid and estimated wages on the Wages declaration form sent to them from their insurance company.
Below is a summary of some payments that are included in wages for workers compensation purposes:
- salary / wages
- shift and other allowances
- over-award payments
- payments for sick leave
- public holidays
- employer superannuation contributions (including the superannuation guarantee)
- grossed-up value of fringe benefits
- long service leave payments
- termination payments
The above list is a summary only and you will need to refer to the Workcover website or contact your insurance company for further details.
Work Cover Wages Defined: http://www.workcover.nsw.gov.au/insurancepremiums/premiums/Wages/Pages/default.aspx