Finalised STP data due in July

The ATO has reminded employers to finalise payroll information through their Single Touch Payroll (STP) provider after the last pay run for the financial year. Large employers with 20 or more employees must make a finalisation declaration for their employees’ end of financial year payroll information by 14 July. Small employers with 19 or less employees have until 31 July to finalise. Employers that have finalised payroll data through STP are exempt from providing payment summaries to their employees and lodging a payment summary annual report to the ATO. Employees will be able to access their payroll information through a registered tax agent or ATO online services using myGov.