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Re: Single Touch Payroll for Superannuation Providers

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Initiate

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Replies 7

Hi,

I'm a Tax Agent that works for a superannuation provider adminstering Self-Managed Super funds (SMSFs) and Small APRA funds (SAFs).

We receive employer contributions which we deposit into our clients' super funds and report these via the Member Account Attribute Service (MAAS) by the appropriate time frame and pay pensions and lump sum payments out of members' super fund accounts to those members, and then report these payments in the super funds' quarterly BAS and at the same time pay any PAYG withholding obligations as part of the BAS, followed by annual reporting of PAYG annual summaries to the ATO.

 

On this basis, my understanding is that all of our super funds have closely held payees only (being the members of their own funds).

 

However we have been receiving STP letters about requiring to report STP after 1 July 2020 or in some cases missing the reporting date but the wording of those letters seems like it's meant for 'employers' and 'businesses' of which we are neither. Therefore, we don't know why we are receiving these letters for our super fund clients and there is no STP information for super providers on the ATO website, only for employers where the information provided suggests those only requiring to report are employers.

Could you please shed some light on this? Could it be because our funds have an ABN which automatically triggered these letters?

Thank you

 

 

1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

Community Manager

Replies 0

Hey Antman,

 

We are still checking into this one for you, thanks for bringing it to our attention.

 

We will update you as soon as we can.

 

KylieS

 

 

7 REPLIES 7
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Moderator

Replies 6

Hi @AntMan,

 

We're having a look into this for you and we'll get back to you with an answer soon Smiley Happy

 

Thanks, NateH

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Initiate

Replies 5

Hi Nate,

 

Any update on this?

 

Thank you.
Kind regards,
Anthony

 

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Best answer

Community Manager

Replies 0

Hey Antman,

 

We are still checking into this one for you, thanks for bringing it to our attention.

 

We will update you as soon as we can.

 

KylieS

 

 

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Community Support

Replies 0

Hi @AntMan

 

We have sent something to your email address. You might want to check your inbox.

 

Thanks, ChrisR

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Community Support

Replies 0

Hi @AntMan
 
We appreciate your patience with this one.
 
It appears that you have been receiving these letters on behalf of your clients in error. Single Touch Payroll (STP) is a new way for employers to report their employees' payroll information to us. Amongst other things, this payroll information includes salary and wages, PAYG withholding and super payments such as super guarantee (SG).
 
For more information about Single Touch Payroll, refer to our website.
 
It doesn't include payments such as pensions, super income streams and super lump sums because these aren't payments that employers make to employees. In turn, super funds that don't have employees such as SMSFs and small APRA funds don't need to report via STP.
 
If you continue getting these letters for your SMSF and small APRA fund clients, you shouldn't need to take any action. In the meantime, we are still waiting on some information from our technical experts for you and will let you know what we find out as soon as possible.
 
Thanks, ChrisR

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Community Support

Replies 1

Hi @AntMan

 

Final update!

 

We can now confirm that these letters were definitely sent in error. As previously advised, if you receive any more of these letters for your SMSF and small APRA fund clients, no action is required. Apologies for any inconvenience caused.

 

Thanks, ChrisR

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Initiate

Replies 0

Thank you very much for your prompt reply. Yes I have received both verbal and written confirmation now that for the time being we don't need to take any action on STP notifications.

Kind regards,
Anthony