From 1 July 2019, the ATO requests all employers to report the employees' salary, PAYG withholding tax and super whenever the employers make a pay run.
Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO.
As an employer, you do not have to prepare and lodge PAYG payment summary to the ATO anymore.
During the transition period, the ATO won‘t charge any penalty on late lodgment, missing lodgment, and wrong lodgment as long as the correction is made.
If you have four or less employees (micro employer) and you don't currently use payroll software, you will have the option for your registered tax agent to report your STP information quarterly, rather than each time you run payroll. This option will be available until 30 June 2021.
For more information and advice, please contact eCount on 02 8002 1376.
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