What are changes in STP reporting from 1 July 2021 that all the employer needs to know?
As per the ATO portal, employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral or exemption. There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021. This may affect how an employer report to the ATO.
Employers with closely held payees
From 1 July 2021, employers must report for all their closely held payees through STP. An employer can choose to report these payees each payday, quarterly or monthly.
Micro employers reporting quarterly
From 1 July 2021, the STP quarterly reporting concessions for micro employers will only be available to micro employers who meet certain eligibility requirements which now include the need for exceptional circumstances to exist.
For further information refer to the following links of the ATO portal:
- Micro employers
- Seasonal and intermittent employers
- Agriculture, fishing, and forestry industry
- Not-for-profit clubs and associations.
Employers can apply for this concession through the online deferral tool from 1 July 2021.
Employers who have not started reporting through STP and do not have a deferral or exemption need to start reporting from 01/07/2021.