You need to make a finalisation declaration by 14 July. However, the ATO recognises the impacts of COVID-19 on the Australian community. If you need additional time, you can complete your STP finalisation up until 31 July.
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.
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.
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.
This finalisation process is explained in detail in the STP employer reporting guidelines, including amendments for current and previous financial years.
Finalising your Single Touch Payroll data
When you have reported and finalised your employees’ information through 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.
