EOFY Reporting and Lodgement Requirements

It is 30 June 2017 and there are certain reporting and lodgement requirements that need to be carried out at year end. If your business pays wages and/or pays contractors, there are a number of reports that need to be issued and/or lodged for the 2017 financial year:

Individual PAYG Payment Summaries (Group Certificates)
Required to be issued by: 14 July 2017

Under pay as you go (PAYG) withholding, you must give each of your employees, workers and other payees a payment summary showing the payments you have made to them and the amounts you withheld from those payments during a financial year.

It is important you provide payment summaries to all your employees even if you were not required to withhold any tax.

Video tutorial: how to issue payment summaries in Xero and submit them with the ATO
https://www.xero.com/us/tv/video/?id=5080-employee-payment-summaries-in-xero

PAYG Payment Summary Statement
Due for lodgement: 14 August 2017

This report provides an outline of all payment summaries you issued to your payees for the financial year and needs to be completed and received by the ATO by 14 August 2017.

A physical form from the ATO can be filled out and lodged – Form NAT 3447-02.2014.

Alternatively, the form can be lodged through Xero or ATO Portal:
https://help.xero.com/au/Payroll-EOFY-SendAnnualReport

Taxable Payments Annual Report
Due for lodgement: 28 August 2017

Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year.

This report is required to be lodged with the ATO by 28 August 2017.

If you are using Xero, the following steps can be followed to create the report:
https://help.xero.com/au/Report_TPAR

DUE DATE SUMMARY:
14 Jul – PAYG Payment Summaries for Employees
21 Jul – June monthly Activity Statement (if on monthly IASs)
28 Jul – Super contributions for June 2017 quarter due for payment
28 Jul – June Quarter Business Activity Statement due for payment and lodgement (if not lodging though tax agent)
14 Aug – PAYG Payment Summary Statement due for lodgement with the ATO
21 Aug – July monthly Activity Statement (if on monthly IASs)
28 Aug – Taxable Payments Annual Report
21 Sep – August monthly Activity Statement (if on monthly IASs)
30 Sep – Reconcile your books for September 2017 quarter: bank reconciliations, receivables, payables, wages and super payable
21 Oct – September monthly Activity Statement (if on monthly IASs)
28 Oct – Super contributions for Sep 2017 quarter due for payment
28 Oct – Sep Quarter Business Activity Statement due for payment and lodgement (if not lodging though tax agent)
21 Nov – October monthly Activity Statement (if on monthly IASs)
21 Dec – November monthly Activity Statement (if on monthly IASs)

For further compliance information, please contact us.