Changes to Payment Summaries
Australian Taxation Office has published Final Specifications for both Self-Printing PAYG Withholding Payment Summaries (Version 5.3.1) and PAYG Withholding Annual Report (Version 13.0.1) which would be used from 2017-18 financial year onwards.
Fiscal Year Changes
The Government presented Federal Budget during the second week of May 2018. There are amendments to PAYG Withholding, HELP & SFSS Rates and Thresholds. The Bill is subject to receiving royal assent and therefore not yet law.
Our Position Statement has been revised to include more details on the above legislative updates. The Position Statement can be found at My Oracle Support, Document ID 2399614.1. We encourage our customers to review the latest statement to keep up to date.