As most of you will be aware, small employers (19 or less employees) are required to start reporting through Single Touch Payroll (STP) any time from 1 July 2019 to 30 September 2019.
If you need more time you can apply for a deferral using the ATO online form. We can also do this for you.
Eligible micro employers (1-4 employees) can choose to report quarterly at the same time as the BAS is lodged. Only registered agents such as Thorntons can apply for this concession. If you would like to do this please contact us.
Closely Held Payees
Employers with 19 or less employees do not need to report “closely held payees” in the 2019/20 year and can report these closely held employees quarterly from 1 July 2020.
A closely held payee means the payee is directly related to the entity from which they receive payments, for example:
- family members of a family-owned business
- directors or shareholders of a company
- trustees or beneficiaries of a trust.
Employees and Payment Summaries
The way that the employees will get their PAYG Payment Summary information depends on whether you have opted in to STP:
- Employers that are not yet reporting through STP will continue to provide employees with a payment summary by 14 July.
- Employers that report through STP are no longer required to give employees a payment summary; instead this information will be provided in an ‘income statement’, available via the employee’s myGov account by 31 July.
If you have any questions regarding the above, or would like further information, please contact one of our team.