EOFY Checklist for Employers: STP, Super & Payroll

As 30 June approaches, so do your year-end payroll and reporting obligations. Missing key deadlines can result in penalties, lost deductions, or even audit risks.

Here’s what you need to get done—on time and in order.

✅ Finalise your STP data by 14 July

If you use Single Touch Payroll (STP), you need to finalise your payroll data by 14 July each year. This includes wages, allowances, bonuses, and PAYG withholding.

What to check:

• Have you reported all year-to-date amounts correctly?
• Have you marked your STP report as finalised in your payroll software?
• If you’ve made a mistake, you can update the report up to 14 August without penalty.
  

RJS Tip: Finalising early? Great. Just ensure you don’t finalise again later unless you’re correcting an error.

✅ Get your super contributions in before 30 June

If you want your employees’ super contributions to be deductible in this financial year, they need to be received by the super fund before 30 June.

That means:

• You should pay through your clearing house by 20 June at the latest
• This allows enough time for processing delays
  

RJS Tip: Use the ATO’s Small Business Superannuation Clearing House or your payroll software’s integrated super system.

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✅ Stay compliant with STP Phase 2

Most employers should now be fully transitioned to STP Phase 2, which requires more detailed payroll reporting, including:

• Employee tax treatments
• Income types (e.g. salary, bonuses, paid leave)
• Breakdown of super and leave types

Make sure:

• Your software is STP Phase 2 compliant
• Your data mapping is correct
• You’re using updated categories and codes

Need help checking your setup? Book a call with an RJS accountant today.

✅ Reconcile your payroll and employee records

Before you finalise, take the time to:

• Cross-check STP totals with your General Ledger and Payroll Summary
• Ensure super, PAYG and leave balances are accurate
• Reconcile employee YTD earnings, tax withheld, and super paid

If you find mismatches, correct them before finalising your STP report.

✅ Keep employee records up to date

Check your employee details now—especially if you’ve had changes to:

• Names or addresses
• Bank or super account details
• Employment status (casual to part-time, etc.)

This avoids delays or errors in income statements for your team.

✅ Provide income statements—not payment summaries

You no longer need to issue payment summaries.

Income statements are now available to employees via myGov, so long as your STP report is marked as “finalised.” This replaces the old group certificates.

RJS Tip: Let your employees know that they won’t receive a paper summary. Direct them to check their myGov account instead.

✅ Watch for final payroll runs and bonuses

Planning to pay a bonus in June? Running a final payroll on 28 June?

Make sure you:

• Include all earnings in your EOFY reports
• Process them in time for bank transfers and super clearing
• Calculate PAYG correctly on lump sums or commissions

✅ Consider director or owner salaries

If you’re a business owner taking wages through payroll:

• Include your own wages in STP finalisation
• Pay any super owed to claim a deduction
• Don’t forget to include reportable fringe benefits or allowances, if applicable

Want to make the most of this year’s tax position? Speak with your RJS accountant to check if a director fee or top-up salary is the right move.

✅ Plan for changes in 2025

Here’s what’s changing next financial year:

• The Super Guarantee rate will rise to 12% from 1 July 2025
• Payday super is coming—employers will need to pay super at the same time as salary and wages (expected start date: 1 July 2026)

Get ready now to avoid last-minute adjustments.

Frequently Asked Questions

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Need help with your EOFY obligations?

Don’t leave it to the last minute.

Whether you’re unsure about STP finalisation or just want a second set of eyes on your payroll reports, we’re here to help. 👉 Book a meeting with your RJS accountant