Single Touch Payroll (STP) Finalisation

All employers need to make a year-end finalisation declaration by 14 July each year, which is simply notifying the ATO that the payroll information for all employees reported through STP for the year is complete and correct. Once finalised you should inform each employee so they know they can access their finalised information to complete their tax return.

If you are unable to make a finalisation declaration on or before the due date, you will need to apply for a deferral.

Complying with STP finalisation means the employer is exempt from having to provide payment summaries or lodging a payment summary annual report.

The 2024 STP finalisation can be made through your payroll software. If you need any further assistance with reconciling your payroll for accuracy or completing a STP finalisation, please contact our office.

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