STP Finalisation: What Must Employers Do by 14 July?
Your last payroll obligation for the financial year
As the end of the financial year approaches, employers have one final payroll obligation to complete: finalising their Single Touch Payroll (STP) data.
The deadline to submit your STP finalisation declaration is 14 July (a later due date may apply for closely held payees). Completing this step on time gives your employees accurate income information for their tax returns.
What Does STP Finalisation Mean?
STP finalisation is your confirmation that the payroll information you reported to the Australian Taxation Office (ATO) throughout the year is complete and accurate. Once your declaration is lodged, your employees' income statements are marked "Tax ready" when processed, so they can lodge with confidence.
Before You Finalise
Before submitting your final declaration, review your payroll records and confirm that:
- All year-to-date payroll figures are correct.
- Every employee is included, even former employees and casual staff who may not have been paid recently.
- You are finalising the correct financial year (2025-26).
- Payroll has been reported under the correct Australian Business Number (ABN).
- Any payroll software or employee payroll ID changes made during the year have been handled properly.
A few extra minutes reviewing your data can save you from corrections later.
How to Finalise Your STP Data
The finalisation process runs through your payroll software. Most systems have a straightforward option to lodge the declaration. If your business provided reportable fringe benefits during the FBT year (1 April 2025 to 31 March 2026), you may also need to include each employee's reportable fringe benefits amount as part of finalisation.
What Happens After Finalisation?
Once your STP data has been finalised:
- Employees can access their income statement through myGov.
- They should wait until it shows "Tax ready" before lodging their return.
- If you later find an error, correct it as soon as possible through your payroll software. Let affected employees know, as they may need to update a return they have already lodged.
Once your finalisation declaration is lodged, employees' income statements are marked "Tax ready", so they can lodge their returns with confidence.
Need help with STP finalisation?
Getting your year-end payroll right avoids delays and follow-up from the ATO. Contact the OzLedger team to review your payroll records, finalise your STP data, or correct any reporting.
This article is general information only and does not take into account your personal circumstances. It is not tax, legal or financial advice. Tax laws and thresholds change, and the figures here are based on ATO guidance current at the time of writing. Before acting, speak with a registered tax agent. The OzLedger team is always happy to help.