Finance News
Single Touch Payroll update
22 Oct 2019

The ATO has announced that with the 1 October deadline for those businesses under 20 employees to start reporting through single touch payroll, that it will now start getting in touch with tax and BAS agents whose clients have not begun reporting. This correspondence will be sent in mid-October with the ATO then to begin contacting employers directly from February to May 2020.

In good news the ATO has confirmed that in this transition phase its focus will be on getting those non-reporting employers up to date and assisting them and it will only begin to impose penalties from 1 July 2020. It is also still possible for employers to submit applications for deferrals, exemptions or concessional reporting.

With the latest figures indicating only 383,000 of the estimated 750,000 small business population have begun reporting through STP if your small business needs assistance, please do not hesitate to contact us.

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