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Important information for STP EOY employee finalisations
In acknowledgement of the impact of COVID-19 and the recent lockdowns, the ATO has just announced an extension to STP end-of-year finalisations.
To recap, employers who report to the ATO via STP are normally required to finalise their employees’ end-of-year income statement by 14 July (in relation to the previous financial year).
While employers (or their BAS/Tax Agents) are encouraged to meet this deadline for 2020/21, employers who need extra time now have until 31 July.
Once finalised, employees should be notified so they can lodge their tax return.
