From 1 July 2012, it will be necessary that each pay slip in Australia must specify the expected date of payment for any superannuation contributions relating to the payments on the pay slip. Version 8.6 asks for this expected date each time you start a pay run.
From 1 July 2012, Leave Loading payments will be taxed like other income. Version 8.6 will do this.
The May 2012 budget introduced a change to the taxation of “golden handshake” payments for payees whose “total annual income” (with new definitions) is over $180,000. Such payments are done as ETP lump sum payments. Although this will only affect relatively few PAY-PACK employees, it means that the ATO has to ask some different information for ETP’s to comply with the proposed legislation. The ATO has correctly sought feedback from stakeholders including payroll software suppliers, such as Custom-Made Software. It may be several months before the final specifications are determined.
As an interim measure, the ETP Lump Sum screen in PAY-PACK now asks an extra question “Whole of income cap?” The answer will always be N for payments in lieu of notice; pay-outs of unused sick or RDO. For other ETP payments please contact us.
You can copy some employee information for a person from one employer group to another. Very useful for an employee from a previous year who has been re-hired. Also useful for a person transferring from one subsidiary company to another.
The allowance and hourly rate screens for an employee now show YTD and MTD amounts