Single Touch Payroll ( STP )

For Employers with 20 or more employees, the STP reporting has started since 1 July 2018.

The ATO encourages the employers with 19 or fewer employees to transit to the STP reporting from 01 July 2019. However, the ATO has stated that they would not force the employers with 19 or fewer employees to purchase payroll software if they don’t currently use it. The ATO is finding a low-cost way to help employers to go digital.

The ATO also advises that micro employers ( 1-4 employees ) can seek help from their tax and BAS agents in this transition of reporting by first helping the micro employers report on a quarterly basis.

More detailed information, please refer to the ATO Website

https://www.ato.gov.au/Business/Single-Touch-Payroll/

Or Contact JFT Partners to help you arrange your tax and accounting affairs.