Single Touch Payroll, the new standard for payroll reporting, has been mandatory for businesses with 20 or more employees since 1 July 2018.
As the relevant legislation mandating STP for smaller businesses - those with 19 or fewer employees - has not yet passed through Australian Parliament, some uncertainty remains for those businesses.
This uncertainty appeared to be resolved when many accounting news websites reported in December last year that the Australian Government had finally passed legislation making Single Touch Payroll mandatory for smaller businesses from 1 July 2019.
However, a communication from ATO Assistant Commissioner John Shepherd later clarified the legislation had in fact not passed through Parliament.
“The Treasury Laws Amendment (2018 Measures No.4) Bill 2018 was passed by the Senate this week with proposed amendments to other measures contained in the Bill. The Bill has now been referred back to the House of Representatives to consider those amendments.
As the Parliament has finished sitting for the year, the next opportunity for the House to hear the Bill will be 12th February 2019.”
With the House of Representatives not in session until February, it will be a little more time before this matter is finalised, however there is no expected change to the 1 July 2019 start date for smaller businesses to begin reporting STP.
You can choose to receive email alerts regarding the progress of the Bill by visiting the Parliament of Australia
website and clicking Track.
The introduction of STP was predicted to be a significant disruption in the way businesses manage their payroll duties but with secure, intuitive STP solutions like Sybiz Visipay and the Sybiz Employer Portal, our customers have found the transition easier than expected.
You can find more information about implementing and managing STP obligations on our dedicated STP page
. Sybiz will also monitor the progress of STP legislation through Parliament in the coming weeks.