Spike in employers STP reporting
There has been a 156% spike in the number of employers Single Touch Payroll (STP) reporting according to July statistics released by the Australian Taxation Office (ATO).
286,168 employers are now STP reporting every pay day to the ATO. This is up from 111,687 businesses in the four-week period prior.
These STP reports covered 9.4 million individuals (noting an individual may be reported by more than one employer – e.g. where they have two jobs) who viewed their income statements (formerly payment summaries) almost 9 million times in myGov.
The spike in employers STP reporting can be attributed to a number of factors:
- Deferrals ending for many medium and large employers
- ATO penalties commencing for medium and large employers from 1 July
- Businesses looking to take advantage of the new simplified end-of-year processes under STP
- STP becoming law from 1 July for small employers.
Attaché was one of the first payroll providers to become STP compliant. Take a tour of our advanced payroll automation solution designed to the meet the needs of medium businesses.
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