STP becomes law for smaller employers
Legislation to extend Single Touch Payroll (STP) to employers with 19 or less employees was passed by parliament today.
The reforms come into effect from 1 July 2019 and will impact about 780,000 smaller employers.
The Australian Taxation Office wrote to smaller employers in November encouraging them to start STP reporting. They said if their payroll software offers STP they should update and start reporting now.
John Shepherd, STP program lead at the ATO, said in September that around 15,000 employers with 19 or fewer employees have already voluntarily started STP reporting.
STP has been mandatory for businesses with 20 or more staff since 1 July 2018. Over 40,000 medium and large businesses have commenced STP reporting.
A transition period now allows employers with 19 or less employees to start STP reporting any time from 1 July – 30 September 2019. Read more.
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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.