ATO’s Single Touch Payroll (STP) system of reporting tax and superannuation information at each payroll event is in place for employers with 20 plus staff – now it’s time for the smaller employers.
Small employers with 19 or less employees – must report each payroll event through STP from 30 September 2019.
A micro employer less than 4 employees might be able to report quarterly in some circumstances.
Penalties for non-compliance to STP for large and small employers are already on ATO’s radar.
Closely held businesses that employ:
- family members of a family business;
- directors or shareholders of a company;
- beneficiaries of a trust
are exempt until 1 July 2020.
Closely held businesses can start STP reporting their payroll events by September 30 2019. A quarterly reporting alternative can be discussed with your registered agent.
Please contact your Hall Chadwick team about being STP compliant +61 3 9820 6400.
Read our Single Touch Payroll Guide previously published in 2018.