Payroll Update &
Key Dates to Remember

** When a due date falls on a weekend, you can lodge or pay on the first business day after without incurring a penalty.

30th June (Sunday)

Last day to have funds received by superannuation funds in order for the superannuation paid to be Tax Deductible in the 2024 financial year.

*Tip — make sure superannuation payments by 24 June. If your final pay is scheduled for the week commencing 24 June 2022, please contact Brentnalls SA for advice.

1st July (Monday)

Start of the 2024 financial year.

Superannuation Guarantee rates will change from 11% to 11.5%.

14th July (Sunday)

Single Touch Payroll (STP) Finalisation Declarations due and PAYG Payment Summaries must be issued to employees (for non-STP employers).

28th July (Sunday)

Payroll Tax remittance is due for June and Reconciliation for the 2024 year.

Last date for superannuation funds to receive Superannuation. 
Contributions for June 2024 quarter to avoid paying Superannuation Guarantee Charge (this charge incurs penalties and amounts paid are not tax deductible). 

14th August (Wednesday)

Payment Summaries must be sent to the Tax Office (for Non-STP employers).

28th August (Wednesday)

Taxable payment reporting (TPAR) due to the ATO for businesses that are in the following industries:

• Building and construction
• Cleaning services
• Courier services
• Road Freight services
• Information Technology (IT) services
• Security, Investigation, or Surveillance services
• Government Entities

Date for lodging Superannuation Guarantee Statement and paying Superannuation Charge (if applicable).

15th September (Sunday)

The 2023-24 Return to Work SA employer remuneration return is due for all payers.

30th September (Saturday)

STP Finalisation Declarations due for all closely held employees.

Superannuation Guarantee Contribution (SGC)

The SGC rate will increase from 11% to 11.5% for the 2025 financial year. 

Reporting employees’ extra super

You must include all reportable employer super contributions you make for an employee on their payment summary. 

Reportable employer super contributions are those contributions you make for an employee where these include:

• Salary sacrifice superannuation;
• Additional amounts paid to an employee’s super fund (for example an annual bonus paid to super); and
• An employee negotiating for increased superannuation contributions as part of their salary package (for example under individual employee and package contracts).

Compulsory employer superannuation payments such as superannuation guarantee are not reportable employer superannuation contributions.

The table below compares the requirements for Salary/Wages, Superannuation, Return to Work SA & Payroll Tax

Fair Work Australia Annual Wage Review

On 3 June 2024, the Fair Work Commission ("FWC") handed down its annual wage review decision for 2023-2024. The new national minimum wage will be $915.90 per week for full-time workers or $24.10 per hour, which is effective from the first full pay period starting on or after 1 July 2024. 

The 3.75% increase will apply to workers who have their pay set by the national minimum wage or modern award. The national minimum wage applies to employees who aren't covered by an award or agreement. 

Employers and employees covered by a registered agreement, should check to see if the increase affects them.

The current casual loadings in the modern awards and for award/agreement free employees will remain at 25%.

Check the FairWork Ombudsman website for more details.