SMEs urged to make the switch to STP
The ATO is urging small employer who have 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.
Mr Lucchese encouraged SMEs to either start using an STP-enabled solution, consider if they are eligible for a quarterly reporting concession, or apply for a deferral.
”It’s really important for small employers to contact us if they have any concerns about their ability to transition to STP,” he said.
“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.
Sydney-based small business Incy Interiors said the transition to STP was relatively simple once they were aware of what option was relevant to their business needs.
“Our accountant contacted me and said that it was time to happen, and we just clicked the button, it was as simple as that,” it said.
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.