Extention of End of year reporting. - InterAcct

The ATO has extended the normal cut off for end of year reporting of Payroll info until the 31st of July for this year.

Single Touch Payroll (STP) changes how you report your employees’ end of financial year (EOFY) information to your employees and the ATO.

What you need to know

You no longer need to provide your employees with a payment summary for payments reported through STP. You will have until 31 July to ‘finalise’ your employees’ EOFY payroll information through your STP enabled software for the 2018-19 financial year. You can finalise this information as soon as it is ready after 30 June.

You are no longer required to lodge a payment summary annual report for the amounts reported through STP as long as you complete the finalisation declaration by the finalisation date.

What you need to do

You need to tell your employees:

›	you will not be providing them with a payment summary
›	their payment summary information will be called an income statement and is available in ATO online in myGov
›	they will need to log into their myGov account, select ATO online services, select Employment and then Income statements to access this information
›	if they use a registered agent to lodge their income tax return, their agent will be able to access their income statement information directly from the ATO
›	if they don’t have access or cannot create a myGov account and don’t use a registered agent they can call us on 13 28 61 and we’ll provide this information to them.

If your employees need help creating or logging in to their myGov account and linking to ATO’s online services, ato.gov.au/onlineservices