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Re: pay period that falls over FY19 and FY20 - how does this impact payment summaries/group certs?

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Newbie

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Replies 3

If a companies last pay period for the fin year runs from 27th June to 10th July which means it crosses over two financial years. What out of this particular pay period is counted in a group cert/payment summary for FY19 vs FY20?

  • Does the whole amount get counted in FY20 group certificate?
  • Does the whole amount get counted in FY19 group certificate?
  • Or do the 27th, 28th, 29th and 30th June days get counted in FY19 group certificate and the remainder in FY20 group certificate
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Best answer

ATO Certified

Community Support

Replies 0

Hi @Naomi,

 

Welcome to our Community!

 

@macfanboy and @PocketRocket88 have provided the correct information - end of financial year payment are based on when the payment is made. If payment is being made by EFT it's the date stipulated the electronic transaction or the date which is intended to be made into the bank account.

 

If you have further questions you can phone us on 13 28 66 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

3 REPLIES 3
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Taxicorn

Replies 0

The whole amount goes to the 2020 tax year.

 

It is when you are paid that counts.

 

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Enthusiast

Replies 0

macfanboy is correct Smiley Happy it would all fall into the 2020 FY reporting as it goes by payment date, not the date the work was performed.
 

https://www.ato.gov.au/Business/PAYG-withholding/PAYG-payment-summaries/#Endoffinancialyearpaymentst...

 

 

Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @Naomi,

 

Welcome to our Community!

 

@macfanboy and @PocketRocket88 have provided the correct information - end of financial year payment are based on when the payment is made. If payment is being made by EFT it's the date stipulated the electronic transaction or the date which is intended to be made into the bank account.

 

If you have further questions you can phone us on 13 28 66 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.