Single Touch Payroll (STP) is now in force for businesses of all sizes, with small employers needing to begin STP reporting since 30 September last year.
Although the 30 September deadline has passed, there will be no penalties for mistakes, missed or late reports for the 2019-20 financial year for small businesses, as the ATO adopts a facilitative approach in implementing the new law change.
The ATO will send out “nudge correspondence” to help spur business to start STP reporting.
To avoid follow-up messages, please give us a call to work out the right pathway to transition to STP and, if needed, apply for a concession or deferral as soon as possible.
But to those micro employer clients with one to four employees who wish to use the quarterly reporting concession, have been reminded to apply for the concession now, ahead of the 28 February 2020 cut-off date.
After this date, quarterly reporting will only be considered for those micro employers with extenuating circumstances.
The full penalty regime for small businesses will then come into effect from 1 July 2020.
Need help using the Single Touch Payroll?
Contact Sphere Group now for more information and we will be glad to help.
