All the essentials for EOFY

Dates, software updates, support and more – all in one convenient place.

Select a date to find out what you need to do this tax time

February 22

It’s deduction time

All your employer deductions forms and payments are due, along with an employer monthly schedule.

It doesn’t matter whether you deduct less than $500,000 PAYE and ESCT per year – everyone has to fill out the forms and pay.

You’ll also need to make sure your EDF/IR 345 and payment is made for deductions made between the 1st and 15th of the month.

Checklist

  • Make sure your deductions records are pitch perfect.
  • Get all your forms done – ensure that you don’t miss anything.
  • Make your payments!

February 29

Prepare your GST

Got your GST ready? You should! Your return and payment is due on this day.

If you use the ratio method, your provisional tax instalments are also due today.

Checklist:

  • Why not take this opportunity to give your records a clean-up and see if you can do any consolidation?

March 07

It’s time to process final pays

As the end of financial year 2016 approaches you need to process all your final pays for the year, including processing the March pays as you usually would.

This is also the right time to ensure your Terminal Tax & Fringe Benefit Tax is up to date.

Plus, your deductions form and payment is due, along with your monthly schedule, if you deduct more than $500,000 PAYE and ESCT per year.

 

Checklist:

  • Get your pay runs ready, and process your final pay – including the March pay run as you usually would.
  • Get your Terminal Tax and Fringe Benefit Tax up to date. Do an audit to ensure everything is as it should be.
  • If you need to submit your deductions form and payments, then you need to get that ready as well.

March 21

Get your PAYE on

It’s time for PAYE, as well as a last call for processing final pays before the end of the year. It’s important to process the March pays as you usually would.

But more importantly, to be prepared for the end of financial year 2016, you should upgrade your MYOB software. Upgrading means you will remain compliant for the new financial year – and all you need to do is enter your serial number in the box below.

And once again, some admin for deductions is on the cards. Check the right column to see what you’ll need to do.

Checklist:

  • The end of financial year is coming. Process your final pays, including the March pays as you usually would.
  • Upgrade your MYOB software to make sure you’re compliant for the coming financial year.
  • Employer deductions and the employer monthly schedule for those deducting less than $500,000 PAYE and ESCT per year are also due.
  • The EDF/IR 345 and payment is due for deductions made between the 1st and the 15th of the month.

March 29

The end of financial year is almost here!

You just have a few days left before end of financial year 2016, and there are still some things you need to complete.

For the Provisional Tax (Ratio Option), you need to pay your instalments on the set date of the designated month, like so:

1st Instalment – December; 2nd Instalment – October; 3rd Instalment – August; 4th Instalment – June; 5th Instalment – April; 5th Instalment – February.

There’s another thing. It may seem obvious, but you need to record all the transactions up to 31 March 2016 in your software. That includes money going out, coming in or moving between accounts.

And if multiple users work in your company file, make sure they've entered their transactions too.

Checklist:

  • Get all your Provisional Tax instalments in order, and make sure your schedule is accurate. Don’t miss a payment!
  • Record all your transactions in your software and reconcile any errors.
  • Make sure all users have entered their transactions!
  • And don’t forget, it’s GST time too – make sure you pay your normal instalment.

March 31

The end of financial year has arrived!

The day has finally arrived.

The end of financial year is a busy time for all businesses, but there are plenty of things you can do to make it easier on yourself. Here are some friendly reminders:

  • Your final pay of the year is determined by the payment date. If this date is on or before 31 March, the pay falls into the current payroll year – if it’s 1 April or afterwards, the pay falls into the new payroll year.
  • Do you manage inventory? Count your inventory as of 31 March 2016, and if you’re using AccountRight, use the count inventory feature to record your quantities. You can adjust them to what you actually have on hand.
  • Reconcile and review your company file data. You want everything to balance! Use the Company Data Auditor in AccountRight, and everything is done for you.

Checklist:

  • Complete your income tax return for the financial year, and make sure everything is in order.
  • Ensure your final pay of the year is completed correctly.
  • Reconcile your inventory and company file data, with a particular focus on these reports: Accounts List, Trial Balance, Balance Sheet and Profit & Loss.

April 01

Start your new financial year on a positive note.

Don’t start the year disorganised. Get some good financial habits in order and you’ll be in a position to take care of everything without a fuss.

Start the first pay period for the 2016 financial year:

To start your first pay period, change the “current pay ended” date in MYOB to your first pay date in April 2016.

Remember: if an employee's holiday anniversary or sick leave anniversary occurs between your last pay and the first pay date in April, you will need to update their leave details.

Checklist:

  • Do some organisation. Get all your documents and paperwork in order for the new year.
  • Update your MYOB software to prepare for the first pay run of the year.

April 05

Time to fill out those forms!

Are you an employer who deducts $500,000 PAYE and ESCT or more per year? Now’s the time to get your EDF/IR345 form and payment in for deductions made between the 16th and the end of March, as well as your EMS/IR348 form.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable)
  • Employer Monthly Schedule (EMS/IR348) (if applicable)

April 07

It’s tax return time!

If you’re using a tax agent to complete your end-of-year income tax this year – and have a valid extension of time – today is the due date for submission.

It’s also the final day to submit your FBT return and payment for the last financial year, so don’t let this crucial day pass you by.

Checklist:

  • End-of-year income tax due for clients of tax agents.
  • FBT return and payment due for clients of tax agents.

April 20

Deducting less than $500,000 PAYE and ESCT per year?

If you’re an employer who deducts $500,000 PAYE and ESCT or less per year, now’s the time to get your EDF/IR345 form and payment in, as well as your EMS/IR348 form.

And if you’re an employer who deducts $500,000 PAYE and ESCT or more per year, your second monthly instalment is due today for deductions made between the 1st and the 15th April, along with your EMS/IR348 form.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable).
  • Employer Monthly Schedule (EMS/IR348) (if applicable).

May 05

It’s that time again!

Deducting $500,000 PAYE and ESCT or more per year? Submit your EDF/IR345 form and payment today for deductions made between the 16th and the end of April, as well as your EMS/IR348.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable).
  • Employer Monthly Schedule (EMS/IR348) (if applicable).

May 09

Stay on schedule

Filing your GST on a monthly, bi-monthly or six-monthly basis, use the ratio method, or are not registered for GST? Your provisional tax instalment is due today – so if you haven’t paid it yet, get on it!

Also, your GST return and payment is due today too, so make sure you get this all covered off so it’s done and dusted.

Checklist:

  • Process your GST return and payment today (if applicable).
  • Ensure your provisional tax instalments are up to date so you don’t miss a payment (if applicable).

May 20

Get your PAYE in fine form

If you’re an employer who deducts $500,000 PAYE and ESCT or less per year, now’s the time to get your EDF/IR345 form and payment in, as well as your EMS/IR348.

And if you’re an employer who deducts $500,000 PAYE and ESCT or more per year, your second monthly instalment is due today for deductions made between the 1st and the 15th, along with your EMS/IR348.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable).
  • Employer Monthly Schedule (EMS/IR348) (if applicable).

May 30

We’ve simplified GST

Your GST return and payment are both due today. The good news is that we’ve streamlined GST so that it’s easier than ever.

Complete your return by filing it directly to Inland Revenue from within MYOB Essentials or AccountRight for a fast, easy and accurate return.

It’s also completely paperless – no more forms or relying on post or couriers!

Checklist:

  • GST return and payment due today, so tick it off your list.

May 31

Feeling productive?

Today’s the day to get your quarterly and annual FBT returns and payments due – so knock them over while you’re on a roll.

Checklist:

  • Process your quarterly and annual FBT returns and payments today.

June 07

Long live the queen

Due to the 5th falling on a weekend and the 6th on Queen's Birthday, the 5th of the month EDF/IR345 form and payment is due today for deductions made between the 16th and the end of May.

Don’t forget, your EMS/IR348 for the whole month is due today, too.

Note – this only applies to employers who deduct $500,000 PAYE and ESCT or more per year.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable).
  • Employer Monthly Schedule (EMS/IR348) (if applicable).

June 20

You know what time it is…

…it’s EDF/IR345 & EMS/IR348 time!

If you’re an employer who deducts $500,000 PAYE and ESCT or less per year, your EDF/IR345 form and payment are due today, as is your EMS/IR348 form.

And if you’re an employer who deducts $500,000 PAYE and ESCT or more per year, your second monthly instalment is due today for deductions made between the 1st and the 15th, along with your EMS/IR348.

Prefer PAYE was a thing of the past?

MYOB PayAgent takes the pain and hassle out of IRD filings and payments, giving you more time to run your business – check it out.

Checklist:

  • Employer deductions (EDF/IR345) form and payment (if applicable).
  • Employer Monthly Schedule (EMS/IR348) (if applicable).

June 28

We’ve simplified GST

Complete your return by filing it directly to Inland Revenue from within MYOB Essentials or AccountRight for a fast, easy and accurate return. It’s also completely paperless – no more forms or relying on post or couriers!

Don’t forget – provisional tax instalments are also due today for people and organisations who use the ratio method.

Checklist:

  • GST return and payment due today.
  • Provisional tax instalment due for those who use the ratio method.

Stay compliant, check your MYOB software for updates

Are you compliant for the new financial year? Check which software update you need by simply selecting your MYOB product below.

To see your AccountRight upgrade options, try the MYOB Upgrade Engine.

Your software is automatically updated via the cloud.

Your payroll update is ready!

Download and apply your update to be ready for the new financial year.*

 

Getting Started Guide

Release Notes

User Guide

 

* 2016 MYOB Payroll update is only available to clients with an active Payroll subscription.

Your payroll update is ready!

The latest version of Ace Payroll includes all the compliance changes coming into effect from 1 April.

These include the ACC Earner Premium reduction from 1.45% to 1.39%, Waitangi Day changes, and Ace Payroll software enhancements.

Your Ace Payroll upgrade will be sent directly to you if you are on a support plan or have already paid for the latest release.

If you’re keen to get the latest version and are not on a support plan, call the team directly on 0800 223 729 to make sure you’re compliant this tax year.

ADDITIONAL SUPPORT TO GET YOU THROUGH TAX TIME

The blog

Guides tips and resources - everything you need for the end of financial year.

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Community Forum

Browse our forum to ask questions and interact with other MYOB users.

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Support

Need a hand? Check our support section for end of financial year help with your software.

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