Home topics finance tax Small Business Tax Tax, Accounting and Bookkeeping Small Business Ready for STP payroll? The latest ATO update John Shepherd March 29, 2018 John Shepherd, Assistant Commissioner, Australian Taxation Office delves into some of the finer detail ahead of the 1 July move to Single Touch Payroll (STP), a change to the way larger employers report tax and super to the ATO. The 1 July start for Single Touch Payroll (STP) is fast approaching, and all larger employers, that is, those with 20 or more employees, will need to get ready. Some of the basics steps to prepare for the transition can be found here , however, we’d like to offer a few clarifications and reminders to help you get ready. Employee headcount – what is required There have been some questions about the employee headcount we’re asking employers to do if you’re not sure you meet the 20-plus employee mark. While we’ve nominated 1 April as the date for deciding employee numbers for STP, (don’t worry – we know it’s Easter Sunday), you can conduct the headcount any time after. If you have 20 or more employees on your payroll on 1 April 2018, you will need to report through STP. You do not need to report the results of your headcount to the ATO. Who qualifies as an employee on 1 April It’s important to know exactly who does and does not count as an “employee” for STP purposes. You do need to include the
Continue Reading on Dynamic Business
This 887-word article continues with in-depth analysis. Only the introduction is shown here.
The full article includes:
- Complete analysis with data, pricing and expert commentary
- Comparison tables and recommendation summaries
- Related articles and weekly updates