{"id":5474,"date":"2021-02-17T13:04:33","date_gmt":"2021-02-17T02:04:33","guid":{"rendered":"https:\/\/mnygroup.wpengine.com\/?p=5474"},"modified":"2025-02-01T18:27:20","modified_gmt":"2025-02-01T07:27:20","slug":"single-touch-payroll","status":"publish","type":"post","link":"https:\/\/mnygroup.com.au\/en\/single-touch-payroll\/","title":{"rendered":"SINGLE TOUCH PAYROLL When Your Reporting Can Cease"},"content":{"rendered":"<p><span style=\"color: #000000; font-size: 14.4px;\"><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav><\/span><\/p>\n<blockquote>\n<p><span style=\"color: #000000;\">A business may no longer be required to lodge <a href=\"https:\/\/www.ato.gov.au\/Business\/Single-Touch-Payroll\/\" target=\"_blank\" rel=\"noopener\">single touch payroll (STP)<\/a> reports for a number of reasons. These are if your business no longer has employees, has ceased trading, has changed structure, is not paying employees for the rest of the year, or has paused due to COVID-19. Depending on your business\u2019s situation and circumstances, what you need to do may be different.<\/span><\/p>\n<\/blockquote>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5477 size-large\" src=\"https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/SINGLE-TOUCH-PAYROLL-When-Your-Reporting-Can-Cease-1024x844.png\" alt=\"SINGLE TOUCH PAYROLL When Your Reporting Can Cease\" width=\"1024\" height=\"844\" srcset=\"https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/SINGLE-TOUCH-PAYROLL-When-Your-Reporting-Can-Cease-1024x844.png 1024w, https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/SINGLE-TOUCH-PAYROLL-When-Your-Reporting-Can-Cease-300x247.png 300w, https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/SINGLE-TOUCH-PAYROLL-When-Your-Reporting-Can-Cease-768x633.png 768w, https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/SINGLE-TOUCH-PAYROLL-When-Your-Reporting-Can-Cease.png 1237w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span style=\"color: #000000;\">NO LONGER EMPLOYING STAFF<\/span><\/h2>\n<p><span style=\"color: #000000;\">If you cease employing staff and continue trading without employees, you must submit a finalisation declaration to the ATO for all your employees as part of your STP reporting.<\/span><\/p>\n<p><span style=\"color: #000000;\">Once you do this, the ATO will pre-fill the employees\u2019 income tax returns and display the information as \u201ctax ready\u201d in their myGov at the end of the financial year. You can make a finalisation declaration at any time during the financial year when you have ceased employing.<\/span><\/p>\n<p><span style=\"color: #000000;\">When you have finalised your STP obligations, you can cancel your pay-as-you-go (PAYG) withholding registration to let the ATO know that you are no longer employing staff.<\/span><\/p>\n<p><span style=\"color: #000000;\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5475 alignnone\" src=\"https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/1.png\" alt=\"\" width=\"49\" height=\"54\" \/>If you are a sole trader, the requirements will be different. Ask this office for guidance if this is your situation.<\/strong><\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"color: #000000;\">CLOSING A BUSINESS<\/span><\/h2>\n<p><span style=\"color: #000000;\">If you are ceasing trade, before you close your business and cancel your Australian business number (ABN), you must bring all your lodgement obligations up to date, including STP reporting.<\/span><\/p>\n<p><span style=\"color: #000000;\">As part of your STP reporting, you will need to make an STP finalisation declaration for all of your employees. Once you do this, the ATO will pre-fill the employees\u2019 income tax returns and display the information as \u201ctax ready\u201d in their myGov at the end of the financial year.<\/span><\/p>\n<p><span style=\"color: #000000;\">You can make a finalisation declaration at any time during the financial year. When you have finalised your STP obligations, you can cancel your PAYG withholding registration to let the ATO know that you are no longer employing staff. Once this is done, you should cancel your goods and services tax (GST) and ABN registrations so the ATO knows you have ceased trading. Of course we can help you with all of this.<\/span><\/p>\n<p><span style=\"color: #000000;\">It is important that you finalise all outstanding STP reporting before you cancel your ABN and your software subscription, in order to meet your STP obligations. If you&#8217;re a company but no longer carry on a business, you can choose to keep your ABN registration. However, you must cancel your GST and PAYG withholding registration and lodge an STP finalisation declaration.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"color: #000000;\">CHANGES TO YOUR BUSINESS STRUCTURE<\/span><\/h2>\n<p><span style=\"color: #000000;\">If your business structure changes, the ABN and branch under which you have been generating your STP reporting may change. If this occurs, you must:\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\"> finalise your STP reporting under the ABN and branch you have been using for your STP reporting<\/span><\/li>\n<li><span style=\"color: #000000;\">start your STP reporting under the new ABN and branch using zero year-to-date employee amounts.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><span style=\"font-size: 25.92px;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5475\" src=\"https:\/\/mnygroup.com.au\/wp-content\/uploads\/2021\/02\/1.png\" alt=\"\" width=\"49\" height=\"53\" \/><\/span><strong>It is important to finalise your STP reporting \u00a0under the ABN and branch before you lose access to it, or it is cancelled or deregistered.<\/strong><\/span><\/p>\n<h2><span style=\"color: #000000;\"><span style=\"font-size: 25.92px;\"><br \/>NO PAYMENTS TO EMPLOYEES FOR THE REST OF THE YEAR<\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"color: #000000;\">If you won&#8217;t be paying any employees for the rest of the financial year, or for a period greater than your reporting obligations, you should lodge a \u201cNo requirement to report\u201d notification. To do this, lodging via the ATO\u2019s Business Portal, select: \u201cManage employees\u201d, then \u201cSTP deferrals and exemptions\u201d, and select \u201cNo requirement to report\u201d.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><span style=\"color: #000000;\">PAUSING YOUR BUSINESS DUE TO COVID-19<\/span><\/h2>\n<p><span style=\"color: #000000;\">If your business has been paused due to COVID19 and, at present, you are not employing and not receiving JobKeeper payments, you should lodge a \u201cNo requirement to report\u201d notification (as per the above process).<\/span><\/p>\n<p>\u00a0<\/p>\n<p style=\"text-align: center;\"><strong><a href=\"https:\/\/mnygroup.com.au\/\">www.mnygroup.com<\/a><\/strong><\/p>\n<p><span style=\"color: #999999;\"><em>This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A business may no longer be required to lodge single touch payroll (STP) reports for a number of reasons.<\/p>\n","protected":false},"author":18,"featured_media":5477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1691],"tags":[1466],"class_list":["post-5474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-tax","tag-stp","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-20"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/5474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/comments?post=5474"}],"version-history":[{"count":0,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/posts\/5474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media\/5477"}],"wp:attachment":[{"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/media?parent=5474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/categories?post=5474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mnygroup.com.au\/en\/wp-json\/wp\/v2\/tags?post=5474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}