AGRICULTURAL employers have been granted new options by the Australian Taxation Office to move toward a single touch payroll system.
Although the 30 September deadline for small employers (19 or fewer employees) to move to single touch payroll (STP) has passed, the ATO wants to remind farmers – and all employers in the agriculture industry – that they have options.
STP is a new way of reporting tax and super information to the ATO, with employers sending their employees’ salaries and wages, pay as you go (PAYG) withholding and super information electronically each time they pay their employees.
The ATO recognises that employers in this industry have unique challenges, different ways of working and managing payroll, particularly if they operate a small farm with 1-4 employees or have a fluctuating seasonal workforce.
To support their transition to STP, the ATO has released concessions for employers in the agriculture industry – outlined in an information guide available for download.
