Australian employers will now have two more months to transition to the second phase of Single Touch Payroll as the ATO announces a blanket deferral in light of the current business environment.
“Whilst the start date for STP phase 2 remains 1 January 2022, the ATO is committed to supporting employers transition to STP Phase 2 reporting by being flexible, reasonable and pragmatic,” an ATO spokesperson told Accountants Daily.
“Where an employer’s payroll solution is ready and they can start reporting from 1 January 2022, the ATO will support and encourage them to do so.
“Employers whose payroll solution is ready for 1 January 2022 will be considered to be reporting on time provided they start Phase 2 reporting before 1 March 2022. They will not need to apply to the ATO for more time.”
STP Phase 2 reporting will see additional information, including a breakdown of gross amounts and income types, required to be reported to the ATO each payday, and subsequently shared with Services Australia in a bid to reduce employers’ reporting obligations to multiple government agencies.
With STP Phase 2 heavily reliant on software providers to update their payroll solutions, the ATO has also announced that further deferrals will be available to providers that need more time. Customers of these software providers will automatically be covered by that deferral.
Further to the deferrals, no penalties will be applied for honest mistakes made during the first year of reporting the expanded data.
The concessions come after key accounting and business groups told the Tax Office that preparing for the expanded reporting was not a priority for businesses and their advisers, particularly in NSW and Victoria where extended lockdowns drag on.
It is the second time the ATO has moved on its STP Phase 2 deadline, after previously bowing to pressure to defer its proposed 1 July 2021 start date to 1 January 2022.
Matthew Addison, executive director of the Institute of Certified Bookkeepers, said the ATO’s concessions would come as a relief for many practitioners and their clients.
“Workloads and deadlines are abnormal at this time and the statement by the ATO that they allow an implementation deferral until 1 March 2022 is welcome,” he said.
Likewise, the Institute of Public Accountants general manager of technical policy Tony Greco said the profession would welcome any concession after a torrid 18 months.
“In a perfect world we welcome reforms such as STP 2, it’s just that it competes with a backlog of other work that just gets pushed aside to respond to emergencies, such [as] helping clients access vital business support to keep businesses afloat,” said Mr Greco.
“Practitioners have not experienced business as usual conditions since March last year.
“The ATO has acknowledged the workload predicament facing practitioners. The profession will take any concessions gratefully. Any further concessions delaying other measures would be appreciated especially for practitioners facing fortnightly retesting required for clients who wish to continue to receive NSW JobSaver payments.”
24 September 2021
The ATO has long held firm on the principle that rent payments (being a form of occupancy costs) are generally...
We believe accounting services should be straight forward and stress-free. By providing cutting edge bookkeeping, accounting, taxation and financial solutions and using the right products for your record keeping, our team at Guests Accounting will work with you to understand your needs and help you achieve your goals, making it easier for you to manage your cash flow and meet your tax obligations.
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Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
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This is an industry with high levels of competition, hard won competitive advantage, and global influences that are constantly changing. Guests Accounting’s experience in this industry is extensive and we have the expertise and provide the range of services that are delivering the results our clients want.
While our accounting skills are very important in delivering the financial analysis and interpretation needed for better strategy development and implementation it is how we use these skills and experience in the following areas that make our efforts even more productive.
The accommodation and hospitality industry is subject to many rules and regulations and it is part of our role to ensure our clients are kept abreast of changes and the financial impact that can accompany such change.
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Work as a barrister or solicitor can be incredibly time consuming. Potentially long hours and long work weeks, keeping up to date with constantly changing legal paradigms and working through client cases can leave little time for yourself.
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Working in the medical industry can be incredibly fulfilling though also extremely time consuming. Potentially long and extended hours, keeping up to date with patient or client details, travelling and on call jobs can leave you exhausted.
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Many of Australia’s best and most successful businesses are privately owned but such ownership comes with its own unique needs and challenges. Guests Accounting have many years experience working in this area and understand well the unique challenges facing owners of family businesses.
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Managing a farm is a time consuming task. Overseeing staff and ensuring your day to day operations are running smoothly can take up enough time as it is; the last thing you may want to deal with is financial paper work and tax.
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The technology industry faces very rapid change. The extent and variety of this change in the last twenty years alone has been hugely diverse and at a pace that sees companies come and go in very short periods of time.
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Managing a transport & logistics business can be a time consuming and complex task. You have to make sure that your staff can perform well, are receiving appropriate payment in regards to their wage and superannuation, plus then there’s the range of OH&S and compliance issues that must be followed.
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Over time, you may want to change the direction your business is heading and this could lead to financial issues. Financial advice and services from professionals could help you and your business keep on track with your goals and evolve positively. Guests Accounting can provide professional accounting advice and services as your business progresses, grows and changes.
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Avi Paluch became a partner in 1975. His client base comprises of professionals in a diverse range of industries, sole traders, national, multi-national and international groups in relation to taxation and management issues.
His clients also include large family groups and high net worth individuals. In addition, he is involved in a range of audits. Avi currently involves himself in various community boards in the capacity of honorary treasurer.
His other interests are being with his family and attending sports events.
Andrew Goldberger joined Guests in 1987. Prior to that he occupied a senior position with the Australia Taxation Office. As well as looking after a diverse range of groups of SMEs and high wealth individuals, Andrew is an expert in taxation. He has been involved in a number of Large Income Tax and State Revenue Audits and provides advice on various technical tax issues and areas of tax planning. Andrew also consults to other practitioners in these areas.
Andrew has also written articles for various taxation publications including CCH and participated in taxation focus groups. He is regularly called on to address various public practitioner groups on taxation matters and has conducted training sessions for CPA Australia.
Ha joined Guests Accounting in 2002 and has earned her position to having been recently appointed a Partner in the firm. Since obtaining a Bachelor of Business (with Distinction) at RMIT, Ha has completed an MBA at Monash University and recently a Masters of Taxation at Melbourne Law School.
Having worked for a number of ASX Listed companies before joining Guests, Ha possesses both robust technical skills in management accounting and turn-around strategies, accounting technologies, together with in depth knowledge in public practice as a tax specialist and business advisor.
Ha’s diversity and quality of clients have accorded her a never-ending opportunity to learn. This has fuelled her ongoing loyalty to the firm to meet and exceed our clients’ expectations. Maintaining a good rapport with clients and well known for her personal and caring approach, she believes embracing new technology will be instrumental in providing deeper insights to their business. She has effectively utilised her knowledge, skills and creativity to the benefit of many of our clients’ business, both large and small enterprises.
As a firm believer in the importance of life time learning, Ha intends to continue her professional engagement with Australian professional bodies and institutions. Whilst regularly speaking and lecturing at Monash University and Latrobe University, she is actively involved with CPA Australia as an author and a group leader for the “Practice Management” Module of the CPA Professional Public Practice program. She is also a member of the Victorian Public Practice Committee CPA Australia, and a board member of KOTO International, a not-for-profit organisation in Australia.
Moshe joined Guests Accounting in 1985 and has more than 40 years of extensive experience. He has an indepth understanding of business and is responsible for a diverse group of clients and is in charge of the Superannuation Team and the Audit of superannuation funds.
Moshe’s knowledge in many different areas including business structuring, accounting, taxation, auditing, SMSFs and business planning in various industries enables him to provide advice on ‘the big picture’, taking into account both present and future needs of clients.
Moshe has been involved in various not-for-profit organisations during his career in an honorary capacity. This has given him a good grounding in the corporate governance area. Moshe continues his interest in the new regulatory environment of the not-for-profit sector.
Mory graduated from Monash University in 1979 and joined our team with more than 20 years experience. He is a member of both the Institute of Chartered Accountants and the CPA and a Fellow of the Association of Taxation and Management Accountants.
After more than 18 years experience with a Chartered firm, Mory travelled to the United Kingdom and gained invaluable experience working with various Accounting and Legal firms in London, developing operating systems and in investigative accounting roles.
Mory joined Guests in March 2002 and became a partner in July 2005, specialising in Taxation and Business Services. Mory has also served on the executive of community boards and not-for-profit organisations.
Gary Bryfman is a FCPA, having a Masters Degree in Taxation. His earlier accounting background was in industry, specialising in costing and budget preparations.
He has been a partner of Guests for 31 years. Gary has been involved in a number of Jewish organisations, including JCCV as honorary treasurer; CSG, JEMP and advisor to MDA executive.
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Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.
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