This article will guide you through the Browse PAYG Lodgment menu. This menu allows you to electronically lodge PAYG Payment Summaries to the ATO for the following fund payments:
- Super Income Stream
- Super Lump Sum
- Non-super related PAYG Withholding
- PAYG payments summaries which relate to payments prior to the 2014-2015 financial year
- Pre-2007 Pension Drawdowns
- Calculation of the PAYG withholding amount for those capped defined benefit pensions. The user is required to calculate and update the PAYG withholding amount and the tax offset manually
- For income streams paid from capped defined benefit pension where a member turns 60 during the year:
- Class currently does not produce a payment summary before 60; and
- Another payment summary after member turns 60.
- The fund is registered as a client on the tax agent's ATO Portal;
- The fund’s ABN or TFN are correctly recorded in Class;
- The CAA software ID has been updated and registered against the fund's tax agent, refer to SBR;
- The Tax Agent has been linked to the fund on Class, refer to Fund Contacts; and
- The correct ABN and Tax Agent Number (TAN) has been correctly entered for the tax agent, refer to Business Contacts
How the PAYG Payment Lodgment list is populated
The PAYG Payment Lodgment list will be populated based on the member payments events process in Class. This list is populated based on the following criteria-
Income Streams
The PAYG Payment list will populate for pensions once a Pension Drawdown event is processed, with the following prerequisites:
For Account Based Pensions
- Member is under 60 on the payment date of the drawdown
- The pension payment made had components with a taxable-tax element
For Capped Defined Benefit Pensions
- The pension payment was made on or after 1 July 2017, regardless of whether
- member is over 60 or not; and/or
- Consist of the entire tax-free component
Lump Sum Payments
The PAYG Payment list will populate for lump sum payments once a Rollover/ Lump Sum Out event is processed, with the following prerequisites:
- Member is under 60 on the payment date
- Payment is not from 100% tax-free components
- Payment Type is 'Cash'
- Condition of Release is one of the following:
- Compassionate Grounds
- Death (except when the beneficiary type is 'Dependant'
- Financial Hardship
- Permanent Incapacity
- Retirement
- Temporary Incapacity
- Withdrawal on Unrestricted Amount
- You can only produce one PAYG Payment Summary Superannuation Income Stream per member, regardless of how many pension accounts the member holds.
- Class will amalgamate all the Pension Drawdown events processed for this member from various pension payments into one, excluding any pension payments that do not satisfy the above requisites.
- PAYG Payment Summaries Superannuation Lump Sums are generated based on per payment, i.e. each lump sum event will require a separate PAYG Payment Summary to be lodged.
- Partial commutation of a pension taken as payment is treated as a lump sum, i.e. income stream payment summary is not applicable.
- If you use Class to electronically lodge PAYG Payment Summary via SBR, there is no need to complete the following ATO Form- PAYG Payment Summary Statement.
Lodging PAYG Payment Summaries
Navigate to Fund Level > Periodic Processing > Browse PAYG Lodgments
- The status should show Lodgement Required
- Select the Menu Icon,
- Select Lodge Electronically
- Select Lodge
Printing PAYG Payment Summary
Navigate to Fund Level > Periodic Processing > Browse PAYG Lodgments
- Click on the relevant PAGY event with the status showing either Lodged Electronically or Amended Electronically
- Select Print
Other Methods of printing PAYG Payment Summary
| PAYG Payment Summary | Form Source |
| Income Stream |
|
| Lump Sum Payments |
|
Status Meaning
Navigate to Fund Level > Periodic Processing > Browse PAYG Lodgments
The table below provides a description of the various status' that can be found from the Browse PAYG Lodgments screen:
| Status | Description |
| Lodgment Required | The lodgment of PAYG Payment Summary is required. |
| Started |
The PAYG Payment Summary data is open and saved. |
| Lodged Electronically | The PAYG Payment Summary has been lodged successfully from Class electronically. |
| Lodged Manually | The PAYG Payment Summary has been lodged through another system, outside of the Class application. |
| Amendment Required | Another drawdown event was created or edited which triggered an update to the form. |
| Amendment Manually | Indicates that the manual amendment has been lodged through another system, outside of the Class application. |
| Amended Electronically | Indicates that the amendment has been lodged successfully from Class electronically. |
| Lodgment Failed | Lodgment has failed due to validation or connection errors. |
| Lodgment in Process | Lodgment is being sent to the ATO waiting for processing. |
What's Next?
Refer to Amend Lodged PAYG Payment Summary article for guidance of amending a lodged PAYG Payment Summary directly from Class.