PAYG Summary Deadline

PAYG Summary Deadline....
Employer Obligations
Under pay as you go (PAYG) withholding employers must give each employee a payment summary showing the payments made to them and the amounts withheld from those payments during a financial year. The employer must provide the employee their payment summary by 14th July and provide the ATO original and the annual PAYG withholding payment summary to the ATO by the 14th August.
Changes in 2009/10
In the 2009/10 financial year, there is a new item Reportable Employer Superannuation Contributions. These contributions are recorded on the PAYG summary and are made for an employee where:- - the employee influenced the rate or amount of super contributed for them - the contributions are in addition to compulsory contributions This does not include contributions that are made by the employer to meet their superannuation guarantee obligations or industrial agreement obligations in respect of the employee.
Example
Under Jill’s industrial agreement, her employer must contribute 10% of her OTE to a super fund. Jill has a long standing agreement with her employer to salary sacrifice an extra $10,000 of her salary to the same super fund. Only the $10,000 additional portion of the employer contributions are reportable employer superannuation contributions that Jill’s employer must report on her payment summary. This is because the following applies: - Jill directly influenced the amount of extra super her employer pays for her
Should you require any further information or assistance in preparing your PAYG summaries please contact your accountant.

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