Public Interest

February Update for Small Business from the ATO

The ATO are committed to delivering a better client experience for small business. Helping you to improve your skills and knowledge to be successful in your small business venture is an important part of this commitment.

Changes to STP reporting from 1 July

Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral or exemption. There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021. This may affect how you report to us.

Employers with closely held payees

From 1 July 2021, employers must report their closely held payees through STP. You can choose to report these payees each pay day, monthly or quarterly.

Micro employers reporting quarterly

From 1 July 2021, the STP quarterly reporting concessions for micro employers will only be available to micro employers who meet certain eligibility requirements which now include the need for exceptional circumstances to exist.

For further information refer to:

Employers can apply for this concession through the online deferral tool from 1 July 2021.

Employers who have not started reporting through STP and do not have a deferral or exemption need to start reporting now.

February Update for Small Business from the ATO

Small Business webinars

Good business relies on good planning so it’s fundamental to spend your time wisely and concentrate on areas that will help your business to succeed. In February and March, the ATO is offering 3 webinars to help you prioritise and focus on strategies to maximise your cash flow. 

Connecting online with the ATO: Sole traders

In this 60-minute session is for sole traders who want to know how to manage their tax and super online. You will also learn the ins and outs of GST, pay as you go withholding, pay as you go instalments, how to lodge your tax returns and more.

Connecting online with the ATO: Businesses

This session has been developed for companies, partnerships and trusts that want to know how to manage their tax and super online. In this 60-minute session, you will learn how to register, lodge and pay online for GST, pay as you go withholding, pay as you go instalments and more using Online services for business which is replacing the Business Portal.

Strategies for improving your cash flow

Cash flow management is critical to the success of any business, but it’s not always easy to find ways to improve your cash flow. This 60-minute session explores seven key strategies that may improve the cash flow of your business.

The ATO also recommend you sign up for our webinar ‘Cash flow for small business success’ which demonstrates free online tools you can use for cash flow management.

To register for these webinars, visit www.ato.gov.au/sbwebinars

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