{"id":537,"date":"2019-08-02T00:10:31","date_gmt":"2019-08-02T00:10:31","guid":{"rendered":"http:\/\/teamasiaconsulting.com\/?p=537"},"modified":"2019-08-02T00:10:34","modified_gmt":"2019-08-02T00:10:34","slug":"how-does-single-touch-payroll-affect-small-business","status":"publish","type":"post","link":"https:\/\/teamasiaconsulting.com\/index.php\/2019\/08\/02\/how-does-single-touch-payroll-affect-small-business\/","title":{"rendered":"How does Single Touch Payroll affect small business"},"content":{"rendered":"\n

Why the change<\/strong>

The ATO has tightened reporting of payrolls with electronic lodgement every time someone is paid, rather than annually.
Bluntly, more reporting equals more cross checking and catching up with irregularities.<\/p>\n\n\n\n

Effective Date<\/strong>

The legislation is in force now – small business has untill September 30 2019 to comply.<\/p>\n\n\n\n

Scope<\/strong>

Large business is already using STP. Small business is defined as less than 19 staff, and micro business as less than 4 staff. Micro-businesses can report quarterly under STP.<\/p>\n\n\n\n

Payroll calculations<\/strong>

Tax and super rates are not affected by the new requirements.<\/p>\n\n\n\n

Payroll Reporting and Activity statements<\/strong>

The payroll data on activity statements is a summary only – STP gathers payroll details on an individual basis.<\/p>\n\n\n\n

Software<\/strong>

Businesses will have to use STP compliant software as the information is sent straight to the ATO business portals. This is a practical issue when setting up – getting the necessary identity clearances has proved time consuming.<\/p>\n","protected":false},"excerpt":{"rendered":"

Why the change The ATO has tightened reporting of payrolls with electronic lodgement every time someone is paid, rather than annually.Bluntly, more reporting equals more cross checking and catching up with irregularities. Effective Date The legislation is in force now – small business has untill September 30 2019 to comply. Scope Large business is already […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-537","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-uncategorized","7":"entry"},"yoast_head":"\nHow does Single Touch Payroll affect small business - TAC MOBILE FINANCIAL CONTROL AND BOOKS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/teamasiaconsulting.com\/index.php\/2019\/08\/02\/how-does-single-touch-payroll-affect-small-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How does Single Touch Payroll affect small business - TAC MOBILE FINANCIAL CONTROL AND BOOKS\" \/>\n<meta property=\"og:description\" content=\"Why the change The ATO has tightened reporting of payrolls with electronic lodgement every time someone is paid, rather than annually.Bluntly, more reporting equals more cross checking and catching up with irregularities. 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