Single Touch Payroll – end of financial year changes

Single Touch Payroll (STP) changes how you report your employees’ end of financial year (EOFY) information to your employees and the ATO.

You no longer need to provide a payment summary to your employees for amounts reported and finalised through STP. You have until 31 July to finalise your employees’ EOFY payroll information through your STP-enabled software or your payroll provider.

You are no longer required to lodge a payment summary annual report to the ATO for amounts reported through STP as long as you complete the finalisation declaration by the due date.

What to tell your employees:

  • If you’re reporting through STP, make sure they know whether or not you are providing them with a payment summary this year.
  • They can access their year-to-date and end-of-year payment summary information, now known as an income statement, in their ATO online services account through myGov.
  • If they use a registered agent to lodge their income tax return, their agent will also have access to their information.
  • They should wait until their information is marked as tax ready before they lodge their tax return.

To view the ATO information and factsheets in full, click here.

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