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Single Touch Payroll For Small Businesses.

Should you switch to Single Touch Payroll Now?

   

Single Touch Payroll is a change to the way employers report their employees’ tax and super information to the ATO.

Using payroll or accounting software that offers STP, employers send their employees’ tax and super information to the ATO each time they run their payroll and pay their employees. The information is sent to the ATO either directly from the software, or through a third party – such as a sending service provider.

Your Accountant can provide you with further information on which software is compatible and will work best for you.

Currently, Single Touch Payroll is compulsory for any business that has 20 or more employees.  

Legislation to extend Single Touch Payroll to include employers with 19 or less employees is currently before parliament and we believe it will come into effect on the 1st of July 2019.

As a small employer, although you are not currently required to report through STP, if you use online or cloud-based payroll software you may be able to start reporting now. 

You can use STP to report employee information from your payroll solution directly to the ATO each time you pay your employees, such as:

  • salaries and wages

  • pay as you go withholding

  • super information

For more information contact our office or see the attached link https://www.ato.gov.au/business/single-touch-payroll/about-single-touch-payroll/

Get In Touch

P.O. Box 495
78 Henna Street, Warrnambool, VIC
Phone: (03) 55 618 618
Fax: (03) 55 618 600
Website: www.shbbusiness.com.au
Email: office@shbbusiness.com.au

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