The Australian Taxation Office has issued a reminder that STP reporting starts soon.
As we previously reported, STP reporting comes into effect on 1 July 2018 for employers with 20 or more employees. The electronic reporting scheme covers salaries and wages, PAYG withholding, and superannuation.
“With less than a month to go our message is clear: Know when and how your software will be updated, get your business STP ready or ask us for more time if you need it,” said ATO Assistant Commissioner John Shepherd.
“Ask your software provider if they have a deferral from the ATO and check it applies to the software version you're using. If they do, you'll start reporting on or before that deferral date – not on 1 July.
“If your software will be ready by 1 July, but you need more time, apply for your own deferral using our online form. You'll need to make sure you provide us with the right information.”
Smaller employers will need to comply with STP reporting from 1 July 2019 if the relevant legislation is passed.
For more information, see the ATO’s website about the introduction of STP.