Liability limited by a scheme approved under Professional Standards Legislation
| Closely held payees: STP options for small employers |
Small employers with closely held payees have been exempt from reporting through single touch payroll (STP).
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However, they must begin STP reporting from 1 July 2021. Small employers must continue to report information about all of their other employees (known as “arm's length employees”) via STP on or before each pay day (the statutory due date). Small employers that only have closely held employees are not required to start STP reporting until 1 July 2021, and there’s no requirement to advise the ATO if you’re a small employer that only has closely held payees. If your business will need to lodge through STP soon, we can help you find an easy and cost-effective STP-enabled solution, or we can lodge on your behalf. Whatever you choose, remember that STP reports can’t be lodged through ATO online services and isn’t a label on your Business Activity Statement, so early preparation is needed.
AcctWeb 23rd-June-2021 |
| Simmons Partners Suite 3a, 303-313 Burwood Hwy Burwood East 3151 Vic | Phone:+61 3 9887 9377 | Fax:+61 3 9887 9615 | Email:info@simmonspartners.com.au |