Within the debate of moving to a four-day working week, Australian companies need to measure and understand employee wellbeing. Sunil Vohra, co-founder of the world’s first independent and standardised index for measuring organisational culture, The Workability Index, highlights how critical it is for Australian businesses to move to measuring wellbeing as a key metric. “At Read More…
Small employers – there’s 3 options if you aren’t using STP yet
Thu 21 November 2019 - 7:45 amMedia Releases
The ATO is urging small employers who’ve not yet made the switch to Single Touch Payroll (STP) to get in touch if they need help to transition.
Small employers with 19 employees or fewer are now required to start reporting through STP but ATO Assistant Commissioner Jason Lucchese said there was still time for businesses to start reporting if they haven’t already.
“If you are a small employer and not sure where to start, there are three possible pathways to take,” Mr Lucchese said.
- start reporting now through an STP-enabled solution that is right for you
- consider if you are eligible for a quarterly reporting concession, or
- apply for a deferral if you need more time.”
“It’s really important for small employers to contact us if they have any concerns about their ability to transition to STP”
“You can also speak with your registered tax or BAS agent if you have one”.
“We want the transition to STP to be simple and manageable for all employers, and no penalties will be applied in the 2019-20 financial year for small employers who make a genuine attempt to transition or for missed or late reports.”
More than 540,000 employers across the country have successfully transitioned to STP.
Small employer, Michael Bloom, Director & Principal Chiropractor at Happy Chiropractic in Malvern said the transition to STP was relatively simple once they were aware of what option was relevant to their business needs.
“I started to report through Single Touch Payroll at the beginning of this financial year. My advice to other employers who haven’t taken the next step toward STP would be not to fear the unknown, it’s easy and once you get it set up it’s literally just one extra click as you’re doing your payroll.”
The ATO will continue to work with small employers to understand any barriers they may be facing and provide support to help them transition to STP reporting.
For more information about STP visit www.ato.gov.au/stp or read up on related articles:
The ATO has also developed an online quiz to assist small employers understand their options and determine what the next step should be.
We will have Jason Lucchese on the Dynamic Business podcast in the next couple of weeks, in order to help you navigate the STP journey.
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