Single Touch Payroll (STP)

Selo
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Single Touch Payroll (STP)

Hi,

 

I have just registered a business for STP but our first payrun was done prior to this registration. I have read that on our next pay run the YTD figures will be updated though my problem is that our next pay run will be after July 1st.

 

How does one update the previous pay run before EOFY? Is it a case of doing a dummy pay run with nil figures?

 

Thanks in advance.

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Ultimate Cover User bungy15
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Re: Single Touch Payroll (STP)

Hi @Selo 

 

Yes you can do $0 pays to update the YTD amounts with the ATO and then do STP EOFY Finalisation.

Or you could provide payment summaries and lodge an empdupe for this FY and start STP in July.

 

Cheers

Tracey

Contributing Partner MargA
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Re: Single Touch Payroll (STP)

I will prepare and lodge 2018/19 payment summaries as pays were done manually - I am trying to process a 1.7.19 pay today 30.6.19 because the client is on holidays and I want to email her details for payment and it wont let me - says only 2017 and 2018 payroll supported

Ultimate Cover User bungy15
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Re: Single Touch Payroll (STP)

Hi @MargA 

 

A payrun with a payment date of 1 July falls into the 19/20 FY. If you are using Essentials you will need to wait until the payroll year rolls over to process a July pay.

 

Cheers

Tracey

MYOB Moderator Neil_M
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Re: Single Touch Payroll (STP)

Hi @MargA 

 

Within MYOB Essentials, the payment date on the payroll transaction determines which timeperiod the pay transaction falls into. If the payment date falls into the new payroll year you will not be able to record the pay until the real world date passes the end of the current payroll year

Regards,
Neil

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Experienced User vegemite
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Re: Single Touch Payroll (STP)

Can I do more than one pay run in a month?

 

I am self employed and take out pay on a non regular basis ;-)

Ultimate Cover User bungy15
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Re: Single Touch Payroll (STP)

Hi @vegemite 

 

If you are a closely held employee and don’t have other employees you are not required to report through STP this year and can report quarterly in future years.

 

Have a look at this ATO factsheet - Closely held employees

 

Cheers

Tracey

Experienced User vegemite
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Re: Single Touch Payroll (STP)

Hi, thanks for your reply.

 

I rather start this financial year. Easier in the long run.

 

So can I simply take out wages a few times a month and then do one payrun a month?

Ultimate Cover User bungy15
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Re: Single Touch Payroll (STP)

Hi @vegemite 

 

STP must be reported the day before or on the day payment is made so if you are withdrawing wages you need to process a payrun and declare it each time. In future years there will be penalties for late report lodgement. 

If you are going to choose to report through STP this way it might pay to apply for a Recurring Deferral with the ATO to give you a few extra days to send your reports.

 

The reason the ATO allow closely held employees to report quarterly is because, like you, they don’t always get paid a set amount each pay period or withdraw the same amount each month. Quarterly reporting means you will just have to report the amounts you have withdrawn each quarter. 

 

Cheers

Tracey

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