Finalise Payees at End of Year (amended)



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3.3.6 Amended finalisation after the end of the financial year

1. Where the need for an amendment is identified, the employer has 14 days to report the amendment. The employee’s myGov display will be updated with the amended information and the information will be available to pre-fill the employee’s income tax return.

2. After the EOFY amendments to employee payroll information must be reported via an update event. If the employee has already lodged their income tax return using the previous finalised information, the ATO may issue an amended assessment to the employee.

3. Where the employer believes previously finalised employee record needs to be amended, they should notify this as soon as possible. This is due to previously finalised amounts being made available as pre-fill amounts for the employee in their income tax return.

4. Where the employer has identified a need to amend a previously finalised employee record but are not in a position to provide final details (in the next 14 days), the employer should provide the same income details with the final event indicator set to FALSE, via an update event. This will remove the previously notified final information from tax return pre-fill, to ensure the employee doesn’t use this incorrect information to lodge their tax return. The employee’s myGov display will also be updated to YTD from finalised.

5. Employers can amend finalised data that has been reported through STP up to five years after the end of financial year using an update event.

How to Finalise a Payee in STP Creator as an Update Event (including an amended event)

This assumes you have already reported your final Pay Event for the Payroll year. You now want to Finalise all Payees. If you have already Finalised all employees (added a Final Indicator in an earlier STP Report) and realised an error was made, you correct this by re-submitting the Report as an Update Event, even if this is a 2nd Update Event.

On the Final STP Report Data screen, check that all YTD amounts for each payee are correct, and tie in with MYOB Payroll Register Summary Year To Date Reports (or payroll reports if not using MYOB®). When satisfied they are correct, select the Payee(s) you want to finalise by placing a tick in column1 (Payroll Number), and then click the Final Indicator button.  The value in the Final Indicator column will be changed to 'TRUE" for the Payee(s) - see image below.

Next ensure the Update checkbox has been ticked as highlighted in the image below.

Lodge, Sign In and Send as per normal.

Extra Assistance Required

As with any STP Creator issues, if you are having difficulty resolving, send us an email with the details (including screenshots). We will provide guidance via email as soon as we can. Alternatively if you would like someone to connect remotely to resolve the issue, we have a HelpMe! service - see link under Extras on our Purchase Page here - a fee applies.