Single Touch Payroll – Mandatory for all employers from 1 July 2019
Single Touch Payroll (STP) changes the way employers report their employees’ payroll and superannuation information to the Australian Tax Office (ATO).
Using payroll or accounting software that offers STP, employers will be required to send their employees’ wage and super information to the ATO each time they run their payroll and pay their employees. (Be it weekly, fortnightly or monthly, based on your pay cycle).
Employers with 20 or more employees
STP reporting gradually started on 1 July 2018 for substantial employers (those with 20 or more employees). If you have not already started reporting through STP you need to.
First step , find out if your software is STP-ready. If you need help, call Mackenzie+Co.
Employers with 19 or less employees
From 1 July 2019 STP reporting is compulsory for all employers.
If you currently use Online Software to process payroll your software is likely to be STP-enabled. If your business uses Desktop Software or you process payroll manually the ATO has provided different STP reporting options. If you need help, call Mackenzie+Co.
Micro-Employers (1-4 employees)
Micro-employers will have a number of options – such as initially allowing your registered tax or BAS agent to report quarterly, rather than each time you run your payroll. If you need help, call Mackenzie+Co.
We understand that some of our clients will require our assistance with the transition to Single Touch Payroll so please get in touch sooner rather than later so we have time to accommodate everyone. Email firstname.lastname@example.org or call us on (03) 5223 1344.
20 mins 18/03