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Bookkeepers will soon receive communication from the ATO informing them of their clients’ Single Touch Payroll status, as the closely held payees exemption draws to a close.
Newsletter
Client STP status set for release
13 February 2020
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Over the next couple of weeks, the ATO will provide agents with a list of employer clients’ STP status.
According to the Tax Office, the list will include clients who have already made the transition; those who are yet to transition or have attempted to transition; those who have applied for, or have been granted, a deferral or exemption; those who have opted for a concessional reporting option; and those who are an employer with closely held payees only.
It will also include a list of clients that have been affected by the recent bushfires.
The communication comes as the STP exemption for closely held payees for the 2019–20 financial year expires in over four months.
From 1 July 2020, closely held payees will need to be reported through STP, with the option to report the information on a quarterly basis.
The expiration date for registered tax or BAS agents to apply for the quarterly concession for their micro-employer clients is also fast approaching at 28 February.
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According to the ATO, over 580,000 small employers have now made the transition to STP.
The ATO also recently advised that the exemption for employers with a withholding payer number (WPN) reporting using STP has been extended to the 2020–21 financial year.
Employers with a WPN will be required to start reporting these payments through STP from 1 July 2021.
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