Changes to STP reporting from 1 July
STP changes for small employers with closely held payees
There are changes to Single Touch Payroll (STP) reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021.
This may affect how you report to the Tax Office.
Employers should be reporting through STP unless they only have closely held payees, or they are covered by a deferral or exemption.
Employers with closely held payees
From 1 July 2021, employers must report their closely held payees through STP. They can choose to report these payees each payday, monthly or quarterly.
Micro employers reporting quarterly
From 1 July 2021, the eligibility criteria for the STP quarterly reporting concessions for micro employers will change and will only be available to micro employers who:
- report through a registered tax professional
- meet certain eligibility requirements which now include the need for special circumstances to exist.
You can apply for a concession from 1 July 2021 - ask Flor-Hanly how on 07 4963 4800. If your business has not started reporting through STP and does not have a deferral or exemption, you need to start reporting now.