STP Guide for Employees

Employees need to be prepared now that the Single Touch Payroll (STP) covers all Australian businesses.

Key Facts:

  • All businesses are now required to submit STP data to the ATO effective 1st July 2019.
  • Businesses with 5 to 19 employees have been granted a 3 month grace period before penalties may apply.
  • Businesses with 4 or fewer employees have been granted the option to submit STP data quarterly via their BAS or Tax Agent for two years.
  • Closely held businesses have been granted a one year exception.

Click this link for a guide on the incoming changes under STP.

Comments are closed.

Facebook