ATO extends STP deadline following latest lockdowns

Late last month, the ATO confirmed it would extend the STP deadline to 31 July. The move comes off the back of several states undergoing some kind of lockdown over the past two weeks.

“You need to make a finalisation declaration by 14 July. However, we recognise the impacts of COVID-19 on the Australian community. If you need additional time, you can complete your STP finalisation up until 31 July,” the ATO said.

“It’s important that you finalise your employees’ data by 14 July if you can, and let your employees know when you have so they can lodge their income tax returns.”

Employers that report and finalise employees’ information through STP are exempt from providing payment summaries to employees and lodging a payment summary annual report.

For payments to employees that were not reported through STP, employers still need to provide a payment summary to employees and provide the ATO with a payment summary annual report for these payment summaries.

If businesses are unable to make the later date of 31 July, they will need to apply for a deferral.

 

Resource: https://www.mybusiness.com/

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