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Hello I was wondering whether we are still obligated to provide the ATO Form - Employment Termination Payment Summaries to employees we have terminated under Single Touch Payroll?
I handle 3 entities and have set them all up on STP (even though this one has less than 19 staff) and I know I can finalise an employee through STP - do I need to manually complete any forms still?
Thanks for posting on the MYOB Community Forum.
According to ATO, you may be exempt from giving Employment Termination Payments (ETP) for the amounts you reported through Single Touch Payroll. This information will be made available to your employees online through myGov and they can even request a copy of this information from ATO.
To be exempt from issuing these payments summaries to your employees, you will need to make a finalisation declaration. This declares you have provided all required information for the financial year through your STP reporting.
You can find some more information at the ATO website- Finalising your Single Touch Payroll data.
Do let us know how you get on and if you require further assistance.