Single Touch Payroll (STP)

Employers reporting through Single Touch Payroll (STP) need to make a finalisation declaration by 14 July each year. Finalising your STP data is how you let ATO know your STP reporting is complete for an employee for a financial year.

The way you finalise your STP data is by making a finalisation declaration. A finalisation declaration is a declaration in the approved form lodged by 14 July each year indicating you have fully reported for the financial year for each employee. You make a finalisation declaration by providing a finalisation indicator for an employee (and directors, contractors, etc) as part of your STP reporting.

Your payroll software will be able to provide you with some guidance on how to finalise STP. However, if you are unsure about the process, please let us know.

Taxable Payments Annual Report (TPAR)

Some businesses need to lodge a Taxable payments annual report (TPAR) for payments made to contractors or subcontractors for certain services during the financial year.

A TPAR must be lodged by 28 August each year.

The services that come under the Taxable payment reporting system (TPRS) are:

• building and construction
• cleaning
• courier and road freight
• information technology (IT)
• security, investigation or surveillance.

If your business provides these services and pays contractors to deliver them, you may need to lodge a TPAR.

Your bookkeeping software will be able to provide you with some guidance on how to lodge a TPAR. You can also find useful guidance on ATO website. However, if you are unsure about the process, please let us know.