EOFY Year and STP finalisation and commencement - reminder on deadlines
Hi everyone,
I just wanted to make partners aware of STP deadlines for employers regarding finalisation & commencing STP submissions.
Finalisation deadline - when employers started STP submission is the key
Finalisation is used to trigger events at the ATO to pre-fill employee's income tax return and display the information as 'tax ready' in myGov External Link. A finalisation can be sent through anytime after 1 July and if they do make a mistake, finalisation submissions can be sent through multiple times if need be.
When an employer started submitting their data via STP will determine the cut-off date for finalisation. The ATO have provided additional time for employers to make a finalisation declaration in their first year of reporting through STP.
- For employers who started reporting in the 2018–19 financial year, they will have until 31 July 2019 to finalise their data.
- For employers who started reporting in the 2017–18 financial year, they have until 14 July 2019 to finalise their data.
Finalisation - some useful links
The following provides some ATO links on finalisation declaration time lines:
What is the deadline for small employers to start STP submission?
The timeframe for small employers (with 19 or less employees) to commence reporting through STP is any time before 30 September 2019 - see this link here.
Note large employers with 20 or more employees – should already be reporting through STP.
If you should have any questions on the above please reach out
