Single Touch Payroll for businesses with closely held payees
| Small employers with only closely held payees have until 1-July-21 to start Single Touch Payroll (STP) reporting.
You can start earlier if your business is ready. You or your agent has either advised us that you only have closely held payees or you currently receive a lodgment concession for the pay as you go (PAYG) withholding summary annual report. A closely held payee is someone directly related to the entity from which they receive payments. This includes family members, directors and beneficiaries of a trust. If you are employing arm’s-length employees, you will need to start STP reporting for those employees now. Starting STP reporting for your business provides us with information that may help you and your employees if you are eligible for support through the COVID-19 stimulus packages. |
What you need to do |
| For any arm’s-length employees you’re not currently reporting through STP, you need to start reporting as soon as possible or on expiry of a deferral (if you have one).
From 1-July-21 you will need to report your closely held payees through STP. For more information to help you get ready for STP reporting, visit ato.gov.au/STPchecklist, call our office on 07 55321 1733 or visit us at www.wilkes.com.au. |
