As a closely held employee reporting quarterly do I send an STP every time I do a pay run, or just one per quarter?
Also, can I adjust the pay run figure each time to suit available funds?
Thanks in advance,
I believe you only have to send the last pay in the quarter and you can pay whatever you like.
Yes, one of the options is that you can report quarterly, the totals for the whole quarter. And the wages can be whatever was paid. See:- https://www.ato.gov.au/business/single-touch-payroll/concessional-reporting/closely-held-payees/
At the end of the year, what is reported via STP then needs to balance with your payroll, and finalised with STP.
Thank you, Kris.
This whole STP thing has done my head in. We have been in business since 1984 and have never needed payroll, as there is only my wife and I.
I hope the ATO agrees with you 😬
I know exactly how you feel, apart from what I read I was also told by an accountant for a friend who is also a one man show that quarterly is sufficient. Good luck