300,000 employers told to start STP reporting now
The Australian Taxation Office (ATO) is writing to 300,000 employers this month to tell them to “Start Single Touch Payroll (STP) reporting now”.
The emails will be sent from 29 January to employers with 19 or less employees who already use payroll software. This is the second formal notification from the ATO to smaller employers of their reporting obligations. The first was sent in November 2018.
The ATO is encouraging these employers to “get in early” ahead of the 1 July 2019 deadline and join the 15,000 small businesses who are already STP reporting.
STP has been mandatory for businesses with 20 or more staff since 1 July 2018. Legislation to extend STP to include employers with 19 or less employees is currently before parliament. The Bill has been passed by the Senate with a number of proposed amendments. It has been referred to the House of Representatives to consider the amendments put forward. The reforms, which are expected to pass, and will impact about 730,000 small and medium businesses.
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To enquire about any Attaché product, including our Single Touch Payroll and payday filing solutions, contact us.
Download the STP Checklist
Single Touch Payroll involves more than getting your payroll software updated. You can prepare your business by following this checklist.