This was an important week for the Single Touch Payroll initiative – by September 30, 80% of small business employers were to digitally start reporting their payroll to the ATO.
And that’s why this time, in his weekly Facebook Live session, David Koch was joined by Xero’s Head of Industry, Matthew Prouse. Together, they answered all questions STP, helping small business owners understand what they new system means for them and how to best adapt to this model.
Some of the topics they covered include:
- is STP good for your business?
- what are the steps you need to take to implement STP?
- what’s the micro employer quarterly reporting concession and who’s eligible for that?
- how do you pick an STP-enabled payroll software?
- can you request the ATO for a deferral for a few weeks?
Watch this segment for more:
This article was originally published on Your Money & Your Life