Are you Single Touch Payroll compliant?

All small businesses should now be Single Touch Payroll (STP) compliant (start date was Monday 1 July 2019 for those with under 20 employees and the start date was Sunday 1 July 2018 for those with over 20 employees).

If you were one of the small businesses or micro employers who applied for a concession for STP, these concessions will end on Thursday 1 July 2021.

STP reporting will now be required for closely held payees (family members of business, directors, shareholders or beneficiaries of trusts). From Thursday 1 July 2021 at a minimum you will need to be reporting quarterly through a STP compliant system.

The only exemptions to reporting using STP are for small employers with 19 or fewer employees and if they meet any of the following criteria:

• no or low digital capability
• no or unreliable internet service
• other special circumstances (you will need to speak to the ATO)

If your reporting systems are not STP ready, you will need to take steps to have your software upgraded as soon as possible.

For further information regarding – Closely held payees

For further information regarding – Exemptions

For further ATO news, events and additional resources – Click here

Wondering how to get STP compliant?
This depends on your current software.

Please see the following for help:
• If you are using Xero read more here.
• If you are using MYOB Accountright Live 2018.2 or later read more here.
• If you are using MYOB Essentials read more here.

• If you are using any other type of software please contact us and we can advise you on the best process for your particular software.