This may affect how you report to the Tax Office
There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021.
Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral or exemption.
Employers with closely held payees
From 1 July 2021, employers must report their closely held payees through STP. They can choose to report these payees each payday, monthly or quarterly.
Micro employers reporting quarterly
From 1 July 2021, the eligibility criteria for the STP quarterly reporting concessions for micro employers will change and will only be available to micro employers who:
- report through a registered tax professional
- meet certain eligibility requirements which now include the need for exceptional circumstances to exist.
Salisbury Accountants can apply for this concession on your behalf through the online deferral tool from 1 July 2021.
FROM 1 JULY 2021 STP reporting for small employers with closely held payees and quarterly reporting for micro employers will change. These changes may affect how employers report to the ATO.
If you’re an employer that hasn’t yet started STP reporting you are encouraged to do so ASAP. Ask our team in Albury how on 02 6041 3014.