Skip to main content
Skip table of contents

End of Financial Year Payroll Processing

Use this checklist to end your current financial year and get started with the new financial year. 

Important! This checklist must be completed in the following order, as listed below. 

This checklist can be used alongside this two-part video series:

▶️ Payroll EOY Processing - Ending the Financial Year Video.

▶️ Payroll EOY Processing - Starting the Financial Year Video.

Ending the Financial Year 

Step

Task

Details

1

Ensure your TASS software is up to date

Ensure your TASS software is running the minimum TASS version of v01.060.06.200.  

To check your software version, click on your Profile Name in the top right of TASS.web.

🔲

2

Check Employee TFN Declarations

Go to TASS.web Payroll HRM > Payroll > Employee Information > Employees. Include Current and Terminated Employees, then click ‘GO’. Select ‘Print’ on the ‘Employees List’ screen.

Export the ‘Payroll Employee Listing’ to Excel® with the additional fields: Residency Tax Status, Tax Scale, Tax Scale Category, and Tax Scale Option.

Check that the ‘Tax Scale’ for each employee correctly represents their ‘Residency Tax Status’, particularly for those employees who are ‘Working Holiday Makers’.

If a ‘Working Holiday Maker’ is incorrectly listed as a ‘Resident’, contact TASS Customer Care. TASS data manipulation may be required if the employee has already received payments.

Tax Scale Codes are set up by your school in TASS.web Payroll HRM > Payroll > Setup Information> Payroll Setup on the ‘Tax Scales’ tab.

The Employee's ‘Residency Tax Status’ and ‘Tax Scale’ are defined in TASS.web Payroll HRM > Employee Information > Employees on the ‘Tax & Bank’ tab.

🔲

3

Check Payroll Calendars and complete the final Pay Runs for June

Go to TASS.web Payroll HRM > Payroll > Setup Information > Payroll Calendars.

For each Payroll Number:

  • Click ‘Update’ and make sure the calendar includes all the dates for the upcoming financial year. If these dates haven't been added to the payroll calendar yet, click ‘Build Calendar’ to create them.

  • Check the ‘Cycle’ column. The last completed pay run of the financial year must be shown as ‘Yearly (Y)’. If it’s not, click ‘Edit’ to update the ‘Cycle’ field.

Then, complete the last pay runs for the financial year for all staff and payroll numbers by following the Pay Run Checklist.

Important!

You must complete your last pay run of the financial year on or before 30th June. This means the ‘Pay Run Resetmust be run on or before 30th June.

If you do not complete your last pay run for the financial year on or before 30th June, you will not be able to include the pay run in the ATO submission for the current financial year.

As a consequence, you will have to:

  1. Abort this pay run and clear all Timesheets.

  2. Update the Payroll Calendar to move this pay run into the next financial year.

  3. Contact TASS Customer Care to update the previous pay run to be the last pay run of the financial year with the Yearly (Y) Cycle flag. Please note that this is a chargeable service.

  4. Complete the End of Financial Year Processing Checklist (this checklist) immediately, before starting the next pay run.

  5. Process the pay run in the new financial year.

This is the only course of action available due to ATO requirements. 

🔲

4

STP Finalisation

Complete Single Touch Payroll (STP) Finalisation for all payroll numbers by following the ‘How to Complete STP Finalisation’ checklist.

Important!

Each step must be completed in full before proceeding to the next step, which is your Year End Reset. 

🔲

5

Year End Reset

In TASS.web Payroll HRM > Payroll > Year End Processing > Year End Reset, do a Year-End Reset for each Payroll Number you have finalised.

The ‘Year End Reset’ program has two functions:

  1. To zero YTD figures for the current tax year.

  2. To transfer 'terminated' employees into 'archived' employees.

Save a copy of the ‘Year End Reset Report’ to a secure network location.

The STP Update Event must be 'ATO Accepted' before running the Year End Reset. 

You must run Year End Reset before starting the first pay run for the new financial year. 

🔲

Proceed to 'Starting the Financial Year' once the above steps have been completed. 

Starting the Financial Year 

Step

Task

Details

6

Import Tax Scales 

TASS will publish the ATO Tax Scales in the software for you to import once they become available from the ATO.

To import the new Tax Scales, go to TASS.web Payroll HRM > Payroll > Setup Information > Payroll Setup. On the ‘Tax Scales’ tab, click the ‘Import Tax Scales’ icon, select the most recent date in the ‘Published’ field, and then click ‘GO’.

If the ‘Effective Date’ is before the start of the new financial year and the latest Tax Scales are not showing in your system, contact TASS Customer Care for further guidance.

Tax Scales without a ‘Last Import Date’ and ‘Effective Date’ should be manually reviewed and updated using the ‘Edit’ link in the Action column if necessary.

🔲

7

Update ETP Cap Amount

Update the Employment Termination Payment (ETP) Cap Amount in TASS.web Payroll HRM > Payroll > Setup Information > Payroll Setup. On the ‘PAYG Setups’ tab, click ‘Edit PAYG’, update the ‘ETP Cap Amount’ to the latest ETP Cap as per the ATO website, and click ‘Save’.

The ETP Cap for the 2025 - 2026 Financial Year is $260,000. 

🔲

8

Review and Update Superannuation

Go to TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds.

  • On the ‘Super Funds’ tab, select ‘Components’ for any superfund. Click ‘Print’, select ‘Print All Funds’ and ‘GO’ to generate 'Super Fund Components Listing'.

  • In the listing, ensure any ‘SGC’ and ‘Salary Sacrifice’ Component Values are set to $0.00 for each fund.

  • If any ‘SGC’ or ‘Salary Sacrifice’ Component Values are greater than $0.00, they should be updated. To do this, click ‘Components' on the ‘Super Funds’ tab, then ‘Edit', change the ‘Component Value’ field to '$0.00’, then 'Save’.

The ‘Component Value’ field on the ‘Super Funds’ tab sets the default component for all Employees.

  • The default SGC% component for all superfunds should be entered in TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds on the 'Super Parameters' tab.

  • Salary Sacrifice components for each employee should be entered in TASS.web Payroll HRM > Payroll > Employee Information > Employees on the ‘Super’ tab.

Go to TASS.web Payroll HRM > Payroll > Setup Information > Superannuation Funds, and select the ‘Super Parameters’ tab.

  • Check the ATO website to see if minimum monthly or yearly earnings are required. If not needed, set the 'SGC Minimum Monthly Earnings' and 'SGC Minimum Yearly Earnings' values to $0.00.

  • Check the Superannuation Guarantee on the ATO website and update the 'Default SGC%' field if required.

The Superannuation Guarantee Contribution for the 2025 - 2026 Financial Year is 12%.

  • Update the 'Start P/E Date for the Super Contribution Year' to be the Period End Date of the first pay run in the current Superannuation Contributions Year.

Superannuation Contributions for the Financial Year are based on when the superfunds receive the contributions. For example, if you remit Superannuation Contributions monthly after the end of the month, then this date would be the date of the first pay run in June, e.g. 01/06/YYYY.

  • In the ‘Component Types for concessional contributions' field, use your 'Ctrl’ key to select the types for Concessional Contributions only.

  • Check the Contribution Cap on the ATO website and update the 'Contribution Cap Amount' if required.

The Contribution Cap for the 2025 - 2026 Financial Year is $30,000.

  • Use the ‘Early Warning Amount’ field to indicate the contribution amount an employee must reach to trigger an alert. A ‘Super Contributions Cap Warning Listing’ will be included in your Edit Listing for that pay run when this amount is exceeded.

🔲

Check and Update Payroll Calendars

Go to TASS.web Payroll HRM > Payroll > Setup Information > Payroll Calendars.

Click ‘Update’ and ensure the Payroll Calendar includes all dates for the upcoming financial year. If these dates have not yet been added to the payroll calendar, click ‘Build Calendar’ to generate them.

Check that the Yearly flag is on the correct pay run. The ‘Cycle’ column must display as ‘Yearly (Y)’ for the last completed pay run of the financial year. If it doesn't, click ‘Edit’ and update the ‘Cycle’ field to 'Yearly (Y)'.

🔲

Pay Runs for the new financial year can now begin.

Check out the Pay Run Checklist for more information on completing a pay run.

JavaScript errors detected

Please note, these errors can depend on your browser setup.

If this problem persists, please contact our support.