STP REPORTING IRREGULARITIES: ATO CONTACTING BUSINESSES

The ATO has advised tax agents that it is currently emailing Single Touch Payroll (STP) enabled employers who have either:

•       ceased reporting for over 45 days; or

•       have submitted employees under multiple payroll or BMS IDs.

Some of these businesses may be tax agent clients.

These reporting irregularities may cause their employees to see incorrect, incomplete or multiple entries in their income statements.

The ATO also advises tax agents that for their business clients who have been contacted by the ATO:

•       agents should encourage them to check that their data is accurate; and

•       agents should remind them that they must finalise their employees' end of year payroll information before 31 July - even if employees have ceased working for them or they have dropped below the threshold for reporting.

If you would like to know more please contact one of our accountants on 07 4639 1099 or come in and see us at 14 Russell Street Toowoomba.