After an eligible termination payment is made, or Payment Summaries must be printed and given to employees by 14 July after the end of the financial year. This applies to continuing employees and any employees who have left your employment during the year. However, you must issue a Payment Summary to a terminating employee within 14 days:
After an eligible termination payment is made, or
Where a terminating employee requests in writing that you issue them with a Payment Summaries.
In addition, you can also issue interim Payment Summaries at any time of year (except during the last 21 days of June) for staff that are still employed. For example, Employees may require Payment Summary details to complete their quarterly Activity Statement.
Interim Payment Summaries must only include amounts for the relevant period, and not include amounts that may have appeared on a previous interim Payment Summary. The year-end or termination Payment Summary will still include amounts for the entire year (or for the period of employment during the year).
In Printing Preferences, you have the choice between printing on the stationery provided by the ATO, or on plain paper.
Plain paper printing is convenient because it saves you having to mess around lining up forms on a dot matrix printer. However, if you want to print on plain paper, you must Lodge the ATO copy electronically. The ATO requires electronic filing when you print on plain paper. Fortunately, Elite Payroll automates the whole process for you. See Create EmpDupe File for details.
1 Before you can start, you must choose whether you want to print on plain paper or on ATO stationery. There are additional requirements if you choose to print on plain paper.
2 From the Reports Menu, choose Payment Summaries, and then the type of summary you want to print. The Report Writer opens the selected Payment Summary report.
Select Print Individual Non-Business Payment Summary to print the summary used for most of your employees.
The Payment Summary report will appear onscreen with the lines and boxes that appear on the actual form. These are displayed to make the form easier to understand, but they are not actually printed. Only the text will be printed if you selected Stationery in Print Preferences.
3 The default period is Last Financial Year. If you are printing a summary for any other period, select the period covered from the Dates drop-down list.
Select Custom if the period you need isn't on the list. This will allow you to change the date range.
4 The default is to print Payment Summaries for all of your employees. If you don’t want to print summaries for all employees, select which employees you want to print summaries for from the employees drop-down list. To choose a single employee or range of employees, select Custom.
5 Click on the Print icon to print the Payment Summaries.