The ATO has recently advised that it will begin a ‘failure to lodge penalty’ process for small business employers (i.e., those with 19 or fewer employers) who have yet to commence STP reporting.
STP reporting has been mandatory for most small employers from the 2020 income year, with a final ‘nudge letter’ being issued to approximately 700 small employers in late January 2022. Notably, the ATO advised that any remaining non-compliant small employers (i.e., those not subject to any appropriate reporting extensions or exemptions) will have pre-penalty warning letters issued from 18 February 2022. Where an employer receives a pre-penalty warning letter, they will have a further 28 days to take action by either starting to lodge or contacting the ATO before a failure to lodge penalty will be imposed.
We know change is hard, but rest assured our friendly team at GC Accountants is here to make the transition from paper to electronic records – SUPER EASY.
We have a full range of services to help get you set up with a user-friendly accounting program (Xero is perfect for this!), accompanied by in-person lessons and ongoing support. All to ensure an easy transition.
Contact us now to chat about making the change, before the warning letter arrives
