ATO sourcing low cost STP services for micro businesses

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Kym__Yeoward
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Australia
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ATO sourcing low cost STP services for micro businesses

Interesting post in today's My Business - ATO working on low-cost STP options for micro businesses

 

Kym Yeoward

Darwin (Palmerston)

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DuncanS
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Re: ATO sourcing low cost STP services for micro businesses

@Kym__Yeoward

 

A very interesting article.

 

In my view, the cost (both monetary and time) to micro businesses is substantial.

 

I can see the benefits of STP especially from a ATO perspective.

 

I foresee STP costing micro businesses opportunity cost of $100 per week in time and effort.

The proprietor has to learn payroll (in my view not advisable) or pay for weekly STP processing.

 

Those employers who pay weekly clearly do 4,3 more effort than those who pay monthly.

 

Is the ATO missing the opportunity cost about to be imposed on micro businesses?

 

Duncan

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days

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