STP gets the green light for smaller employers

Legislation to apply the Single Touch Payroll (STP) system to small employers (those with 19 or fewer employees) has finally been passed by the Senate. This has created a passage for the STP system to come into operation for such employers from 1st July 2019.

In line with previous releases, the ATO has issued an initial list of low cost software providers for taxpayers in the micro business sector (i.e. those with 4 employees or less), who will supply affordable solutions, costing less than $10 per month, take only minutes to complete each pay period, and do not require the employer to maintain the software. The ATO has also raised the possibility of allowing micro employers to report quarterly via their accountant or BAS agent.

The present list of low cost software providers is available here.

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