End of Year Single Touch Payroll (STP) Finalisation
If you have been reporting your payroll through STP throughout the year, it is time to finalise those reports. Traditionally, you would have to give your employees payment summary and then lodge a payment summary annual report to the ATO. If you are on STP, you will not need to do that anymore.
In Xero, these are the steps to finalise STP data: https://central.xero.com/s/article/Finalise-Single-Touch-Payroll-data
Employees can access their Income Statement via their MyGov.
Please reach out to us if you need any assistance.