The end of the financial year is fast approaching, as an employer there are a few legal requirements that you must abide by in order to be compliant.
The beginning of a new financial year also brings about changes that come into effect on 1 July, this year we are experiencing significant changes in Superannuation, as well as changes to tax and penalty rates.
Here are your obligations as an employer at the end of the financial year:
The following video shows how to produce these reports (payment summaries and a payment summary annual report) in Xero, there is also a document to assist in reviewing payroll transactions for end of financial year.
For more information or to see how to produce these reports in Quickbooks see our frequently asked questions.
Contact us on (07) 3862 8777 if you have any queries regarding your obligations at the end of the financial year.