Happy New Financial Year!
- Jul 8, 2021
- 1 min read
Now that the 2021 Financial Year has finished, there's some key dates and changes to remember;
Single Touch Payroll
Single Touch Payroll (STP) finalisation for 2021FY is due 31st July 2021. This includes a 2 week extension provided because of COVID.
If STP was not set up for that year you can still mail paper copies of payment summaries to the ATO.
All employers must have STP set up from 1st July 2021 for the new year.
Taxable Payment Annual Reports
Taxable Payment Annual Reports (TPAR) are due 28th August 2021. These only apply to businesses in certain industries who engage contractors or subcontractors. A list of these industries is here;
The reports can be lodged through your bookkeeping software, or ask your accountant for paper forms.
Super Guarantee
Super Guarantee has increased to 10% from 1st July 2021. Most bookkeeping softwares will automatically change the rate, however it's recommended to check your first pay run in July 2021 to ensure the rate is correct.
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