Single Touch Payroll (STP) is a reporting change for employers. Employers will report payments such as salaries and wages, PAYG withholding and super information directly to the ATO from their payroll solution at the time they pay their employees.
STP will become mandatory on 1 July 2018 for employers with 20 or more employees. If you have 19 or fewer employees, STP reporting will be optional. It is expected to become mandatory for all employers by 1 July 2019.
If you have employees, you will need to count the number of employees on your payroll on 1 April 2018. Read more about How to count your employees.
For more information about becoming STP compliant refer to ATO’s Guidance on Single Touch Payroll
We help professionals and enterprising business owners by getting the numbers right, adding strategy and insights to maximise business growth, and providing specialist advice that considers your diverse business interests and financial goals.
P+Y Accountants & Business Advisory | P: (07) 3217 5700 | E: contact@py.com.au
Disclaimer: The information contained here is general and not intended to serve as advice. Any information supplied is not a substitute for independent professional advice. We do not warrant the accuracy, reliability, completeness or adequacy of the information or material. All information is subject to change without notice. P+Y and each party providing material displayed here disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. Users are encouraged to contact P+Y for advice concerning specific matters before making any decision.
