Employers should have already been reporting
through Single Touch Payroll (‘STP’) unless they
only have closely held payees, or they are covered
by a deferral or exemption.
From 1 July 2021, there have been changes to
STP reporting for small employers with closely held
payees and quarterly reporting for micro employers.
More specifically, for employers with closely held
payees, employers must now report amounts paid
to their closely held payees through STP.
They can choose to report such payments via one
of three methods, being:
- actual payments each pay day;
- actual payments quarterly; or
- a reasonable estimate quarterly.
For micro employers reporting quarterly, the STP
quarterly reporting concession is only available
to micro employers who meet certain eligibility
requirements (which now include the need for
exceptional circumstances to exist).