Final Wage payment over 2 Financial Years

Question

 · Accepted Answer

TonyATO · Answer

Most employers instruct their financial institution to release funds the day before the official pay date to ensure employees receive their pay on time. The processing times vary between financial institutions which may result in some employees receiving the pay in their account before the official pay date. You and your employees should report the pay to us based on the official pay date, even if some employees receive their pay early. This is to ensure the income reported in the employees tax returns matches the income reported by you. Hope this makes sense. TonyATO

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