Payers must issue 2020-2021 PAYG Withholding payment summaries to payees (that is, employees and other workers).
You may be exempt from giving payment summaries and a payment summary annual report for the amounts you reported through Single Touch Payroll (STP). This information will be made available to your employees as an income statement through ATO online services via myGov. To be exempt from issuing these payment summaries to your employees, you will need to make a finalisation declaration by 14 July 2021. However, the ATO recognise the impacts of COVID-19 on the Australian community. If you need additional time, you can complete your STP finalisation up until 31 July 2021.
The Australian Taxation Office (ATO) has announced that taxpayers can apply for an extension of the repayment period where they are unable to make their Division 7A annual minimum repayments by the end of the 2020-2021 income year due to the ongoing effects of COVID-19.