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  • Single Touch Payroll: changes to your EOFY reporting

    Are you reporting through Single Touch Payroll (STP)? If so, your end of financial year process has changed.

    These changes mean you are no longer required to provide a payment summary to your employees or lodge a payment summary annual report for any information that has already been reported and finalised through STP.

    If you won’t be providing a payment summary to your employees this year, you should let them know. Your employees will be able to see their information reported through STP in their ATO online account via myGov. This information will now be referred to as an income statement. If your employees don’t have a myGov account, they can create one External Linkand link it to the ATO.

    If you started reporting through STP during the 2018–19 financial year, you will have until 31 July 2019 to make the finalisation declaration within your software solution.

    We encourage you to finalise all employee records as soon as they are ready. The sooner information is finalised, the sooner it will display as 'tax ready' in your employees' ATO online accounts and be ready to use in their tax return.

    See also:

    Last modified: 15 May 2019QC 58914