Closely held payees: STP options for small employers

Closely Held Payees: Stp Options For Small Employers

 

Small employers with closely held payees have been exempt from reporting through single touch payroll (STP).

 

       

However, they must begin STP reporting from 1 July 2021.

Small employers must continue to report information about all of their other employees (known as “arm's length employees”) via STP on or before each pay day (the statutory due date). Small employers that only have closely held employees are not required to start STP reporting until 1 July 2021, and there’s no requirement to advise the ATO if you’re a small employer that only has closely held payees.

If your business will need to lodge through STP soon, we can help you find an easy and cost-effective STP-enabled solution, or we can lodge on your behalf. Whatever you choose, remember that STP reports can’t be lodged through ATO online services and isn’t a label on your Business Activity Statement, so early preparation is needed.

 

 

AcctWeb

Subscribe

  • This field is for validation purposes and should be left unchanged.
Nii Coutts Redington Avatar
Coutts Redington
Company
First and foremost, we’re accountants. But we like to think of ourselves as a lot more. We work closely alongside business owners to bring more clarity, direction, and support, improving elements of your life beyond just the business. And, with our firm’s history in the Townsville area going back to the 1950s, we’re an established part of the local business community. We take that responsibility seriously.

Share This

Select your desired option below to share a direct link to this page

Share on facebook
Share on twitter
Share on linkedin
Share on skype
Share on pinterest
Share on email