Accounting software provider Reckon has now launched a free STP-compliant mobile app, bringing the number of software providers with low and no-cost STP-ready products to 11 before the launch of STP for businesses of all sizes from 1 July 2019.
These low and no-cost products have been developed for micro employers with one to four employees.
Reckon’s new STP mobile app was created in partnership with software developers Thinkmill, with the product now ready for download on the Apple App Store and the Google Play Store.
The app is designed to solely lodge STP reports to the ATO, with micro clients who are seeking additional accounting functionality required to sign up for Reckon One at $5 per month.
Reckon chief executive Sam Allert said that over 5,000 people have pre-registered to download the app, demonstrating the demand for a mobile solution.
“Single Touch Payroll is widely considered as the biggest change for employers since the introduction of GST almost 20 years ago,” Mr Allert said.
“Many microbusinesses are still doing ‘shoebox accounting’ while overlooking payroll software that can save time and money. This might be because they’re reluctant to digitise their operations due to limited capabilities, internet access or cost.”
Where we’re at
The ATO recently hit a new milestone with STP, with over 100,000 employers now reporting through the new system.
Accountants and bookkeepers are being relied on to bring their clients up to speed on STP and get them compliant ahead of the rollout.
While 1 July has been officially listed as the start date for STP, the ATO will adopt a flexible and reasonable approach to allow small businesses to transit to STP by allowing reporting to commence any time between 1 July and 30 September 2019. Closely held payees have been granted a one-year STP exemption.
The Tax Office has also detailed a number of exemptions for STP, with registered tax and BAS agents able to apply on behalf of their clients.
Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
With a focus on breaking news and exclusive analysis, Jotham keeps Accountants Daily readers up to date with company moves, tax updates and essential business and client strategy.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.