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STP ... and companies with < 1 employee ...

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I'm new

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Ok here is a doozy ...

 

What is an organisation with > 0 but less than < 1 employee do ????  

 

A weird question .. no, not really.  Think of microbusiness where the sole director (in my case ... *me*) is also the *only* one who gets paid ... and such payments are few and far between (i.e. ad-hoc as opposed to a fixed schedule).  

 

The STP seems to make a mediocre of sense where you have a regular pay cycle with people getting paid weekly etc, but does however seem to fall flat on it's a... err ...  face when it comes to the adhoc scenario that I've listed above (at least from what I have read on the subject so far.)

 

If I've missing something drastically important then forgive my ignorance ...).  

 

 

/BGM

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Enthusiast

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Hi bgm,

 

If you look at the concessions on the following page, closely held payees (which includes directors of a company) are not needed to be reported in the 2020 income year, and will have the ability to report quarterly beginning in the 2021 income year (from 1 July 2020).

 

When you are reporting quarterly you will essentially be submitting a report saying the payments made during the quarter.

 

Hopefully this helps in your situation Smiley Happy

 

https://www.ato.gov.au/Business/Single-Touch-Payroll/Concessional-reporting/Closely-held-payees/

 

 

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Most helpful response

Enthusiast

Replies 0

Hi bgm,

 

If you look at the concessions on the following page, closely held payees (which includes directors of a company) are not needed to be reported in the 2020 income year, and will have the ability to report quarterly beginning in the 2021 income year (from 1 July 2020).

 

When you are reporting quarterly you will essentially be submitting a report saying the payments made during the quarter.

 

Hopefully this helps in your situation Smiley Happy

 

https://www.ato.gov.au/Business/Single-Touch-Payroll/Concessional-reporting/Closely-held-payees/