Summary

As part of your EOFY processes you can choose to create a Finalisation Submission via either the Finalisations tab or the Payer EOFY Summary tab.

Bulk finalisation of payers is easier to do via the Finalisations tab.

The Finalisations tab allows you to:

• Finalise Payer(s) - finalise one or more payers at a time
• Finalise Payee(s) - submit a finalisation for a subset of employees belonging to a specific payer and tax year. You will find this option useful for:

• Employees that leave your organisation part-way through a tax year that wish to complete their tax returns early, e.g., those departing Australia.
• Employees that need corrections made to a previous tax year, e.g., the ability to re-finalise some employees but not all.

Submission Deadlines

For 2018-2019 it's 31 July 2019.

For 2019-2020 onwards it's 14 July.

Reporting Amendments

There is a 4 year limit on amending tax returns for Australian businesses the size PayGlobal typical caters for.

See https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/fix-a-mistake-or-amend-your-tax-return/request-an-amendment-to-a-business-or-super-tax-return.

You will need to let the ATO/employee(s) know as soon as possible if a change is going to be made. The recommended practice is to run an Update Event. This will mark the employee(s) as 'Not tax ready'.

Once you have made all your corrections in PayGlobal and submitted any further update events, then you need can create a new finalisation event for the employer just the subset of effected employees

Note: For record keeping purposes, this window will only ever display a maximum of seven years of finalisation events per payer.

What data is in a Finalisation Event

The only data differences between a Finalisation event and a Payroll event are:

• Count and list of employees

  Finalisation events pick-up every employee included in a pay for the selected payer/YTD combo. This includes employees with reportable gross earnings of zero.

• Submission ID

  The id references the YTDCode reported, employer ABN and branch and a date stamp

• Finalisation Indicator is set to True
• Employee period start and end dates

  These are the earlier of the submission date or the tax year end date being reported date.

Finalise Payer(s)

When you click the Finalise Payer(s) button the New Finalisation form opens. The form displays the following:

YTD Code

The YTD code field defaults to current tax year based on your machine's system data. You can select previous tax years if you have not completed EOFY processes before 1 July, or you need to re-finalise due to making payroll corrections to YTD values.

Payers grid

The Payers grid shows all payers/internal companies that paid an employee(s) in the selected YTD are listed.

All your Internal Company records are grouped by "Payer" (i.e. unique ABN and ATO Branch number).

Magnifying glass

Clicking this will show the details for the given payer aka all the companies in the group. You can then choose to submit if desired.

For Internal company you will be shown the count of: Closed Pays, Open Pays and Unopen pays. This helps to identify if your organisation is ready to finalise a payer. For EOFY processes you are ready when the count of Open and Unopened Pays is zero.

Each Payer will have a message regarding their finalisation state will display. The messages are as follows:

STP v3 submission :

• If no existing finalisations found: No warning or message
• Any finalisation submission found PayGlobal shows a warning:

  [Warning] There is already a full finalisation for this year

STP v4 submission:

• If no existing finalisations found, or there are open pays - No warning or message is displayed
• If there are no open pays, and the last submission is a finalisation for all employees PayGlobal shows a warning:

  [Warning] All employees have been finalised.

• If there are no open pays, but a finalisation submission is not the last submission for all employee PayGlobal shows an information message:

  [Warning] x / y employees have been finalised.

  If you get this message it may be more convenient to use the Finalise Payee(s) feature to finalise the outstanding employees. Because a re-finalising the 'x' employees may lead to those employees having the tax status in MyGov reverted to 'Not Tax ready'

"Select all" button

Clicking the "Select All" button is a quick way to create a finalisation event for every payer for the selected YTD code.

If you do not want to finalise all payers at once, you need to click the check box of the payers you do want finalise.

"Submit" button

The "Submit" button becomes active once you have selected at least one payer. When you click the Submit button you will be prompted to complete a submission declaration.

"Cancel" button

The "Cancel" button allows you to stop the Finalise Payer process

Finalise Payee(s)

When you click the Finalise Payee(s) button the New Finalisation Submission form opens.

Aside from the form title; this form has the same Payer, Tax year and Employee selection features as the New Update Submission form.

If you do not set a Description, PayGlobal will assign a default Description of:

Update_(final)_<Payer’s ABN (ATO Branch Number)_<YTDCode>_<SubmissionDate>

Note: The “Final” column is designed to be a STP v4 feature. The column will be hidden if a submission is being made using the STPv3 service.