STP is a government initiative which streamlines the reporting of wages, tax and superannuation to the ATO each time a payment is made to an employee.
The concessions for STP reporting ends on 30 June 2021. If you have not started reporting through STP you need to start reporting as soon as possible.
For small employers with closely held payees (family members of a family business, directors or shareholders of a family business) there are three options of reporting:
1. Report actual payments on or before the date of payment through an STP enabled solution.
2. Report actual payments quarterly through an STP enabled solution.
3. Report a reasonable estimate quarterly through an STP enabled solution.
Please note that STP reports cannot be lodged through the ATO portal. It is not an additional label on your Activity Statement.
Further information can be obtained by following the link below.