Single Touch Payroll Finalisation
Once the STP finalisation has been sent to the ATO, the employee’s information will be released in their myGov account and listed as ‘tax ready’. Finalising STP in IAM STP Reporting is quick and easy; it is a matter of ticking the ‘Final Event Indicator’ box in the last pay run of the year. Before sending the final figures to the ATO, you’ll need to verify the amounts against your client’s payroll records and reports.