AUDIT UPDATE - NOT-FOR-PROFITS MOVE TO SINGLE TOUCH PAYROLL

If your NFP has 19 or fewer employees you will need to start reporting through Single Touch Payroll between 1 July and 30 September.  This means you report your employees' tax and superannuation information to ATO each time you pay them.

The ATO has made several resources available to assist with transition to STP, including a: guide for small employers, a list of STP software providers and a news, events and resources page

If your NFP has between one and four employees and doesn't use payroll software, other ways to report STP information are:

  • Implementing a no-cost and low-cost solution for STP that may include simple payroll software, mobile phone apps and portals, and
  • Working with a registered tax or BAS agent – you can report your STP information quarterly at the same time you lodge your business activity statements rather than each payday.  Your tax or BAS agent will still need to report your STP information through a STP-ready solution. The option is available only until 30 June 2021.

For more information visit https://www.ato.gov.au/Non-profit/Newsroom/Lodgment-and-concessions/Single-touch-payroll-for-small-employers/.