End-of-year finalisation through STP

For employers:
Before 14 July 2020 (or 31 July 2020 if you have 19 or fewer employees) you are required to submit your STP Finalisation Declaration for the 2020 financial year. Your payroll provider should have provided you with information about how to complete this process.

This is a reminder for employers who started reporting through Single Touch Payroll (STP) this financial year to tell their employees they will not provide them with a payment summary for data reported and finalised through STP. 

They should also advise their employees they can access their income statement from their tax agent or in ATO online via myGov, and to wait until their information is marked as ‘Tax-ready’ before they lodge their tax return to ensure their information is correct.

For employees:
Your income statement (previously referred to as a payment summary), will be available in ATO online services from 1 July 2020 once finalised by your employer.  Your employer does not have to provide you a paper or digital income statement for the information reported through STP.

Once your income statement is 'Tax-ready', you will receive a notification to your myGov inbox. If you don't have a myGov account linked to the ATO, contact them on 132 661 to arrange a copy of your income statement. From this point, you can continue to lodge your tax return as usual, either directly through myTax, or through a registered tax agent. 

Click here for more information about how you can recieve your income statement.