Small employers told "It's time to move to Single Touch Payroll"

Small employers told "It's time to move to Single Touch Payroll"

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Important: Businesses should consider outsourcing their payroll functions

Important: Businesses should consider outsourcing their payroll functions

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Single Touch Payroll is coming and farm businesses need to be up with it.

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A QUIZ might be the ideal tool to help farm business owners come up to speed with Single Touch Payroll (STP) ahead of the September 30 start date.

The Australian Taxation Office is encouraging small employers (those with 19 or less employees) to get ready for system.

To help small employers better understand their options, the ATO has developed a range of factsheets and other resources which are available on the ATO's website, including an interactive online quiz to help determine what their next step should be.

QUIZ: Click on the image above to be linked to the STP quiz.

QUIZ: Click on the image above to be linked to the STP quiz.

STP became mandatory for small employers from July 1 this year, however, the ATO granted an extension to businesses that needed more time to get ready until September 30.

Some employers and industries have special circumstances and the ATO understands some may need more time to get ready.

The ATO is working with employers to ensure they understand their options for STP, whether that is reporting now, getting a deferral, or working with their tax or BAS agent to report quarterly (if eligible).

There are also concessions available for employers that employ, family members or other 'closely held' payees, micro employers with one to four employees, those who employ intermittent or seasonal workers or employers who don't have access to a reliable internet connection.

ATO assistant commissioner, Jason Lucchese, said now is the time for small employers to be aware of their options and take the right steps to get ready.

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"More than 400,000 employers are already reporting their employees' tax and superannuation information digitally through STP, but we understand all employers operate in slightly different ways and every industry has unique challenges which can affect their payroll processes," Mr Lucchese said.

"Regardless of whether you're ready to start reporting, or if you still need more time to get ready, there are options available to you."

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