End-of-Year Finalisation through STP (Single Touch Payroll)

✅ What is STP Finalisation?

At the end of each financial year, employers must finalise their payroll data through STP Phase 2. This means confirming that the amounts reported to the ATO (wages, tax withheld, super, etc.) are complete and correct for each employee.

Once finalised, employees can access their Income Statement via myGov, which replaces the old PAYG Payment Summary.

📅 Due Date for Finalisation:

• Employers with 20 or more employees:

  • Must report closely held payees each payday, just like arms-length employees.

  • STP finalisation due date for closely held payees: 30 September.

• Small employers (19 or fewer employees):

  • If only closely held payees are employed, the finalisation due date is the individual payee’s tax return due date.

• Employers with both closely held and arms-length employees:

  • Closely held payees: finalisation due by 30 September.

  • Arms-length employees: finalisation due by 14 July.