News

Small businesses encouraged to get ready for single touch payroll

By Lachlan Durling

THE ATO is urging small employers to prepare for the introduction of Single Touch Payroll (STP) ahead of the September 30 deadline.

After granting an extension to businesses, STP is mandatory from the end of this month for businesses with 19 or fewer employees.

ATO assistant commissioner Jason Lucchese said the ATO is working with employers with special circumstances 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.

“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,” Mr 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.”

For more information, factsheets and an interactive quiz visit ato.gov.au/stp