STP changes coming for small employers
If you run a small business with payees that include family members in a family business or directors or shareholders of a company, chances are you’re not yet reporting payments through the Single Touch Payroll (STP) regime. Basically, STP works by sending tax and super information from your STP-enabled payroll or accounting software to the ATO as you run your payroll. So, if you’re not already familiar with the system, you’ll need to get up-to-date as from 1 July 2021 all employers will need to start reporting payments through the system.
