Final Date for registration 30 June 2021.
Are you a micro employer (<4 employees) or have closely held payee of a company or trust?
Single Touch Payroll (STP), is an Australian Government initiative which requires you to report employees’ payroll information to us each time you pay them through STP-enabled software. Payroll information includes:
- salaries and wages
- pay as you go (PAYG) withholding
- superannuation.
STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees.
STP reporting exemptions were granted for micro employers or closely held payees until 30 June 2021
If you haven’t started reporting through STP, you need to start reporting as soon as possible and at least by 1 July 2021.
- Arm’s length employees via STP on or before each pay day (the statutory due date).
- Closely held payees such family members of a family business, directors or shareholders of a company and beneficiaries of a trust through on of the below options.
From 1 July 2021, you can report payments to closely held payees through STP in any of the following ways:
- Report actual payments on or before the date of payment – whenever you make a payment to a closely held payee, report the information on or before each pay event.
- Report actual payments quarterly – report your actual payments to closely held payees quarterly. Each quarter, when your activity statement is due, report all payments made in that quarter.
- Report a reasonable estimate quarterly – report amounts equal to or greater than a percentage of gross payments and tax withheld from the latest year, across each quarter.
This quarterly option does not change the due date for:
- notifying and paying your pay as you go (PAYG) withholding on your activity statement
- making super guarantee contributions for your closely held payees.
You must continue to report information about all of your other arm- length employees via STP on or before their pay day.
For more information about Single Touch Payroll check the ATO Link
For help with your STP reporting registration contact Cube Bookkeeping on 0412 955 477
