40,000 employers now STP reporting
40,000 employers have commenced Single Touch Payroll (STP) reporting according to John Shepherd, STP program lead at the Australian Taxation Office (ATO).
Whilst this represents the majority of the estimated 70,000 businesses who employ 20 or more staff, it still leaves a large number yet to meet their compliance obligations. These employers are likely to be covered by payroll software provider deferrals which will expire before 1 July 2019.
Will there be a mad rush at end year?
An additional 730,000 smaller employers must also commence STP reporting before 1 July 2019.
This represents a large number of businesses all needing to update their payroll systems and processes in a relatively short period of time.
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