EOFY checklist

Having reached the end of another financial year, it’s time for a little housekeeping.

Employers are obligated to certain actions under the long service leave legislation. Avoid penalties by ensuring:

• Levy Advice form and corresponding payment submitted for every month.
• Any adjustments are reported and payment difference paid or refund claimed. More about adjustment levies.
• Annual audit report submitted or underway through your auditor.

Remember:

• There was a levy rate reduction this financial year from 2.7% to 2.0% effective 1 July 2018 so ensure any outstanding Levy Advices and payments reflect this rate in the calculations.
• Annual audit reports must be lodged within six months of the end of the financial year. More about audits.