Blog

25
Sep

Small businesses reminded to move to Single Touch Payroll

Small employers (those with 19 or less employees) need to get ready for Single Touch Payroll (STP) ahead of the 30 September start date.

STP became mandatory for small employers from 1 July this year, however, the ATO granted an extension to businesses that needed more time to get ready until 30 September.

Some employers and industries have unique circumstances and the ATO understands some may need more time to get ready. The ATO has been working with employers to ensure they understand their options for STP, whether that is reporting now, getting a deferral, or working with their tax or BAS agent to report quarterly (if eligible).

There are also concessions available for employers that employ, family members or other “closely held” payees, micro employers with one to four employees, those who employ intermittent or seasonal workers or employers who don’t have access to a reliable internet connection.

ATO Assistant Commissioner Jason Lucchese said now is the time for small employers to be aware of their options and take the right steps to get ready.

“More than 400,000 employers are already reporting their employees’ tax and superannuation information digitally through STP, but we understand all employers operate in slightly different ways and every industry has unique challenges which can affect their payroll processes,” Lucchese said. “Regardless of whether you’re ready to start reporting, or if you still need more time to get ready, there are options available to you.”

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell also commented, “It’s encouraging to see the number of small businesses reporting through STP has more than tripled during this transition phase. However there are many small businesses that have not yet made the move and they really need to.”

Carnell added, “For those small businesses that need more time, they can apply for a deferral or work with their tax or BAS agent to report quarterly, if eligible.”

The ATO has also developed a range of handy factsheets and other resources which are available on the ATO’s website. There’s also an interactive online quiz to help determine what their next step should be.


Source: InsideSmallBusiness