Single Touch Payroll - Final Pay for the Financial Year
You need to make a finalisation declaration by 14 July each year.
For an employer with a mixture of both closely held payees and arms-length employees, the due date for end-of-year STP finalisation for closely held payees is 30 September each year.
You can finalise your data earlier if it's ready. The sooner you finalise your employees' information, the sooner they will be able to lodge their tax returns. Before making your finalisation declaration, make sure your STP information is correct.
You can finalise employees' pay through one of the following:
- By checking the Final Pay flag when you lodge the last pay run of the financial year, or
- By lodging an update type after the end of the financial year
Lodging the last Pay run "Auto Generated" of the Financial Year
Follow the next steps to lodge the final pay of the financial year:
- Click S.T.P. icon from the application toolbar
- Find the last pay run with "Auto Generated" payroll type
- Click the Lodge icon
- The lodgement window appears
- Check the option Final pay for the xxxx financial year
- Click Lodge to lodge the final pay run report
If you forgot to check the final pay flag, then you need to either send a replacement report "if the financial year has not passed", or send an update report "if the last day of the financial year has already been passed".
Lodging the last Pay run "Manually Created" of the Financial Year
Follow the next steps to lodge the final pay of the financial year:
- Click S.T.P. icon from the application toolbar
- Click New and the single touch payroll report window appears
- Select the last pay run of the year
- Check the option Final pay for the xxxx financial year
- Enter the employees' payroll details, or import STP data from an excel file
- Click Save to save the update report
- Click the Lodge icon
- The lodgement window appears
- Click Lodge to lodge the final pay report
Lodging Final Pay for previous Financial Year
Follow the next steps to lodge the final pay of previously lodged financial year:
You can only lodge a final pay for previous financial year, if you have submitted STP during the financial year at least once! If you have not lodged any STP for that financial year, then you must lodge standard PAYG payment summary.
- Click S.T.P. icon from the application toolbar
- Find the last pay run of the required financial year
- Click the Replace / Update icon
- The single touch payroll report window appears and the report type is set to "Update"
- Make sure to include all employees and enter the correct information
- Click Save to save the update report
- Click the Lodge icon
- The lodgement window appears
- Click Lodge to lodge the update "final pay" report
Final pay flag will be automatically checked for any previous financial year.