Announcements
Looking for information on the JobKeeper extension? Check out our answers to common questions the community has been asking.

ATO Community

STP

This post is archived and may not be up-to-date.

Highlighted

Newbie

Views 1128

Replies 1

I am self employed and work under my family trust which has no other income and I receive the full distributiob of the trust each year.

As I am the employer (the  trust) and an employee (of the trust) and I am the sole employee of the trust what am I required to do in the two roles in Single touch Payroll.

The only payment made in any year is to my super as a one off contribution as super guarantee

I do not receive a salary from the trust.

1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Allen,

 

Thanks for getting in touch!

 

If you're a closely held payee you can be exempt from reporting STP information for the 2019-20 financial year. A closely held payee is considered to be directly related to an entity from who they receive payments for, such as:

  • family members of a family business
  • directors or shareholders of a company
  • beneficiaries of a trust.

If the only payment made during the year is a superannuation entitlement, you continue to report and pay this through your existing SuperStream solution (including the Small Business Superannuation Clearing House). This does not change as a result of STP.

 

However, you may need to report your super liability or ordinary time earnings (OTE) through STP when a pay event occurs. This is based on the amounts you currently provide on an employees' pay slip. Super funds will report to the ATO when you make the payment to your employees' super fund. This will provide the ATO with visibility of an employer's super obligations and payments.

 

If you have further questions about STP you can phone us on 13 28 66 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.

1 REPLY 1
Highlighted

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Allen,

 

Thanks for getting in touch!

 

If you're a closely held payee you can be exempt from reporting STP information for the 2019-20 financial year. A closely held payee is considered to be directly related to an entity from who they receive payments for, such as:

  • family members of a family business
  • directors or shareholders of a company
  • beneficiaries of a trust.

If the only payment made during the year is a superannuation entitlement, you continue to report and pay this through your existing SuperStream solution (including the Small Business Superannuation Clearing House). This does not change as a result of STP.

 

However, you may need to report your super liability or ordinary time earnings (OTE) through STP when a pay event occurs. This is based on the amounts you currently provide on an employees' pay slip. Super funds will report to the ATO when you make the payment to your employees' super fund. This will provide the ATO with visibility of an employer's super obligations and payments.

 

If you have further questions about STP you can phone us on 13 28 66 between 8am - 6pm, Monday to Friday to speak with an operator.

 

Thanks, JodieH.