Connect your payslips with the Australian financial year
This guide covers payslip periods, payment dates, annual income statements and the records used for budgeting and tax reporting.
On this page
- Financial year
- 1 July to 30 JuneServices Australia tax time
- Scope
- General recordkeeping information; no payroll or tax calculation
Match the financial year and pay period
Fair Work lists the pay period and date of payment separately among the required payslip details. Fair Work payslip information (opens in a new tab).
The Australian financial year runs from 1 July to 30 June. Services Australia explains that tax-time tasks depend on the payments and services received. This guide does not determine benefit balancing, a refund or a final tax liability. Services Australia tax time (opens in a new tab).
Separate gross pay, net pay and deductions
Fair Work lists gross pay, net pay and deduction details among payslip information. Gross and net amounts describe different stages of pay, so a deposited amount alone does not describe every payroll entry. Fair Work payslip information (opens in a new tab).
For hourly pay, the payslip includes the ordinary rate, hours at that rate and the associated amount. Separately identifiable loadings, allowances and other entitlements also have reporting requirements. Fair Work payslip information (opens in a new tab).
Read super and leave labels carefully
A payslip can show super contributions made or intended. An intended contribution on a payroll record does not by itself establish that the fund has received the payment. Fair Work payslip information (opens in a new tab).
Leave balances are not generally required on a payslip. Paid family and domestic violence leave has special privacy rules about what may appear. This overview does not assess compliance or employment entitlements. Fair Work payslip information (opens in a new tab).
Use the annual statement for the annual record
Fair Work distinguishes income statements for Single Touch Payroll reporting from payment summaries where reporting is deferred or exempt. The annual record identifies payments and tax withheld for the financial year. Fair Work annual statements (opens in a new tab).
Reportable Employer Super Contributions can include salary sacrifice or additional super contributions; super guarantee is excluded from that label. It is not interchangeable with every super entry on a payslip. Fair Work annual statements (opens in a new tab).
Reconcile pre-filled information and supporting evidence
MoneySmart explains that employer and financial-institution information may be pre-filled, while other income may need adding. The pre-filled entry still requires comparison with the underlying records. MoneySmart tax return guidance (opens in a new tab).
A deduction needs evidence of the expense and its calculation; a bank statement alone is generally insufficient. This guide supplies no deduction decision, payroll calculation or tax estimate. MoneySmart tax return guidance (opens in a new tab).