If you're an employer, you need to move to Single Touch Payroll (STP) reporting by 30 September 2019.
STP changes the way you report your employees' tax and super information to the ATO. You now need to report salaries and wages, pay as you go (PAYG) withholding and super information to the ATO each time you pay your employees.
If you already use STP-enabled payroll software start reporting now and you won't have to worry about missing the deadline.
If you're not ready you can do one of these three things before 30 September 2019:
Go to ato.gov.au/stpsolutions and find a software solution that meets your needs. Once you have a solution you can start reporting.
Talk to your tax or BAS agent about concessional reporting options available to you. These options will depend on your individual circumstances.
Apply to the ATO for more time if you can't start reporting by the deadline.
With over 400,000 employers already reporting through STP, it’s important to engage with the ATO before 30 September, even if it’s to ask for more time.
The ATO is holding a webinar on 26 September, 11am–12pm AEST, that will give you information about:
what you need to do transition
what to do if you haven't transitioned yet
some common mistakes to avoid so you get your STP reports right.
There will also be on opportunity to have your questions answered from STP experts.
Register for the webinar: STP Helping small employers and Tax Professionals get it right
Places are limited so register now to secure your place.
Source: ATO website.
Please note: Nothing in this blog post constitutes legal, accounting, tax or any other advice in any form. All member businesses must seek their own independent professional advice and guidance.