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The ATO is reminding small businesses that they have two weeks until the Single Touch Payroll deadline.
Businesses with 19 or fewer employees have until 30 September to move to Single Touch Payroll (STP), after it became mandatory for all small employers from 1 July this year.
During the three-month transition period provided by the ATO, the number of small employers reporting through STP has more than tripled, going from around 100,000 to 350,000 as of 16 September, the Tax Office revealed.
Assistant Commissioner Jason Lucchese said it’s time to move to STP and small employers need to be taking steps to start reporting.
“More than 425,000 employers are already reporting their employees’ tax and superannuation information through STP, but we understand all employers operate in slightly different ways and can sometimes be faced with unique challenges which can affect their payroll processes,” Mr Lucchese said.
“Regardless of whether you’re ready to start reporting, or if you still need more time to get ready, there are options available to you.”
The Tax Office has offered a number of concessions for employers who don’t have access to a reliable internet connection, as well as those that employ family members or other “closely held” payees, one to four employees, and intermittent or seasonal workers.
Previously, the Commissioner of Taxation, Chris Jordan, reassured small employers that the ATO’s approach will be flexible, reasonable and pragmatic with no penalties for mistakes, missed or late reports for the first year.
Once the ATO’s penalties do kick in, they will be calculated at the rate of $210 for each 28 days or part thereof that the STP report(s) is/are overdue (to a maximum of $1,050). The Tax Office has, however, said it will generally apply these penalties where an employer is routinely and repeatedly late.
Additionally, false and misleading statements within an STP report will be penalised according to law.