Single Touch Payroll Update

Most employees should now be reported through Single Touch Payroll (STP). For many small businesses this will be the first year of having to complete the finalisation process in STP.

STP Finalisation
  • 14 July for business with 20 or more employees
  • 31 July for business with 19 or fewer employees

Closely Held Payees

Closely held payees include family members, directors, shareholders or trust beneficiaries. The exemption from reporting through STP has been extended to 1 July 2021. At this date all employees must be reported through STP.

For any closely held payees that are already reported through STP, the finalisation date is 30 September.

Don’t forget to check our EOFY and Payroll Resources for templates and checklists.