STP Finalisation

It's important that you finalise your employees' data by 14 July if you can, and let your employees know when you have so they can lodge their income tax returns.

Making a finalisation declaration :

Before making your finalisation declaration, make sure your STP information is correct.

If you can't make a finalisation declaration by the due date, you will need to apply for a deferral.

You can finalise your data earlier if it’s ready. The sooner you finalise your employees’ information, the sooner they will be able to lodge their tax returns.

When you have reported and finalised your employees' information through Single Touch Payroll (STP), you are exempt from:

  • providing payment summaries to your employees

  • lodging a payment summary annual report.

For payments to your employees that were not reported through STP, you still need to:

  • give a payment summary to your employees

  • provide us with a payment summary annual report for these payment summaries.

What you will need to tell your employees:

  • you are no longer required to provide them with a payment summary for the information you’ve reported and finalised through STP

  • they can access their year-to-date and end-of-year income statement online through myGov or talk to their registered tax agent

  • 'income statement' is the new term for their payment summary

  • to wait until their income statement is 'Tax ready' before lodging their tax return

  • to check their personal details and if necessary, update with both you and the ATO (incorrect personal details may prevent them from seeing their STP information)

  • if they don't have a myGov account they can easily create one – see Setting up your myGov account.

Employers with closely held payees :

If you have 20 or more employees, you should be reporting closely held payees each pay day along with arms-length employees.
The finalisation due date for closely held payees is 30 September each year.

For small employers (19 or fewer employees) who only have closely held payees, the due date for end-of-year STP finalisation will be the payee's income tax return due date.

For an employer with a mixture of both closely held payees and arms-length employees, the due date for end-of-year STP finalisation for closely held payees is 30 September each year.

All other employees are due 14 July each year.

If you need further information visit the ATO Website.

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