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Wednesday - last edited Thursday
Unfortunately it does mean you will have to change your pay week or get payroll staff to change days. I was in a similar situation and realised this would be a problem when STP was first introduced. I did a list of options for my employees, as changing the pay week meant a short pay week for us, including the option of me changing my work days. They chose changing the pay week and I had the time to give them a months notice so they would be prepared. Hope you find a solution that doesn’t cause to much disruption
Thanks @bungy15 for your response. Sadly, I think this is going to impact micro/small businesses and make payroll administration a stressful job - when admin take holidays or sick leave there may not always be someone available or able to cover their role. Pays are done on time, but quite often the paperwork and payroll admin is caught up when they return to work.
Another example of bureaucracy not thinking about small businesses and how they are run in real life situations.
You are right - it is making payroll more stressful for small business. STP has done nothing to make EOFY easier, as claimed by the ATO. We still need to reconcile, finalise, close the payroll year, upgrade and load new tax tables - ALL prior to doing the first payrun of the new year.
Personally I think the reasons for STP are purely to benefit the ATO and government departments.
Friday - last edited Friday
I'm glad I'm not the only one stressing about how to manage all of this! Best of luck to you too. I'm sure this forum and others like it - plus the ATO phone lines - will be overwelmed in the next few months. I am hoping that some changes will be implemented by the ATO down the track to help reduce the admin overload STP has caused (such as reporting within a more relaxed time frame)..