SINGLE TOUCH PAYROLL – STP REPORTING OVER THE CHRISTMAS BREAK
Many businesses have a shutdown period during the year, especially in December and January. But when you report through Single Touch Payroll (STP) you need to lodge your payroll information on or before each payday.
If one or more of your pay runs falls on a day you are closed, you can submit multiple pay runs prior to your closure period. You can make any changes in your next pay run once you re-open.
If you prefer to report after you have re-opened you can apply for an operational deferral which defers the due date of your STP report. This can be done through the business portal or through your registered agent.
Remember, registered tax agents can help you with your tax. Contact us today to learn more.