After your last pay run for the financial year, there's one important step left to complete - finalising your Single Touch Payroll (STP) data.
When you finalise your STP data, you're confirming that the payroll information you've reported throughout the year is complete and correct.
You'll need to make your finalisation declaration by 14 July (later for closely held payees). Finalising on time ensures your employees have the correct information to lodge their tax returns and help you avoid follow-up reminders.
Quick checks before you finalise
Before submitting your final declaration, take a moment to ensure the information is correct. Ask yourself:
- are all year-to-date amounts correct?
- have I included all employees, including those who haven't been paid for a while such as casual workers and former employees?
- am I finalising for the current 2025-26 financial year?
- have I reported under the right Australian Business Number (ABN) in STP?
If you've changed payroll software or employees Payroll IDs during the year, check our instructions on what you need to do to ensure your STP data is correct.
How to finalise your STP data
Finalising your STP data is a simple process, and you do it through your payroll software.
If you've provided fringe benefits to your employees during the last fringe benefits tax (FBT) year (1 April 2025 - 31 March 2026), you may also need to report each employee's reportable fringe benefits amount through STP as part of the finalisation process.
After you finalise
Once you've finalised your STP data:
- Let your employees know they can access their income statement through myGov. Employees should wait until their income statement is marked 'Tax ready' before lodging their tax return.
- Fix any mistakes promptly by making an amendment as soon as possible. Let your employees know if you make a correction so they're aware that their income statement will be updated. If they've already lodged their tax return, they may need to submit an amendment.
Find more at End-of-year finalisation through STP.
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