Single Touch Payroll (STP) Finalisation
A reminder that employers registered for STP are required to submit a finalisation report direct to the ATO via their accounting software by the following due dates:
employers with 20 or more employees report due 14 July 2020
employers with 19 or fewer employees due 31 July 2020
Employers with only closely held payees or non-business employers, don't need to start reporting via STP until 1 July 2021.
For those employers who are not yet setup on Single Touch Payroll (STP), you are still required to provide employees with PAYG summaries by 14 July 2020 and make lodgement of the PAYG Payment Summary Annual Report to the ATO by 14 August 2020.
Reporting through STP also supports JobKeeper payment applications and helps meet the monthly reporting requirements for the subsidy.
Should you have any questions in relation to STP and what it means for your business, please do not hesitate to contact us on (07) 3446 5906 or via email.