77,000 employers now STP reporting
77,399 employers have commenced Single Touch Payroll (STP) reporting according to latest statistics released by the Australian Taxation Office (ATO).
61% of these businesses employ 20 or more staff. The remaining 39% have 19 or less employees.
Employers with 20 or more employees
STP started from 1 July 2018 for employers with 20 or more employees.You should now either be reporting through STP, or have a deferral in place. The law requires you to submit your STP report on or before the day you pay your employees.
64% of the estimated 73,510 employers with 20 or more employees have commenced STP reporting.
Employers who are consistently late submitting their reports or who do not start reporting by their deferred date, may be subject to ATO penalties from 1 July 2019.
Employers with 19 or less employees
Legislation has been passed to extend STP to include all employers from 1 July 2019. A transition period allows these employers to start reporting any time from 1 July – 30 September 2019.
30,501 employers with 19 or less employees have commenced STP reporting.
If you will not be ready to start reporting by 30 September, you will need to apply to the ATO for a deferred start date.
STP and EOY 2018/19
This end of financial year is the first under STP for many employers. If you are reporting pays via STP, you are no longer required to issue payment summaries and your EOY is a new, simplified process. Find out more.
Talk to a specialist
To enquire about any Attaché product, including our Single Touch Payroll and payday filing solutions, contact us.
Single Touch Payroll for employees
Single Touch Payroll also impacts your employees. Our STP employee fact sheet provides everything your staff need to know.