Employers have many obligations towards their employees, from issuing payslips to reporting their superannuation and Pay as You Go (PAYG) Withholding. This can be burdensome for most employers having to manage payroll compliance.
The ATO has introduced the Single Touch Payroll (STP), an Australian Government initiative to reduce employers reporting burdens to government agencies. With STP, you report employees’ payroll information to us each time you pay them through STP-enabled software.
Payroll information includes:
STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees.
We have provided several concessions depending on business, industry, or employer types. Most of these end on 1 July 2021. If you have a current concession you will need to be reporting each payday through STP by this date.
If you haven’t started reporting through STP, you need to start reporting as soon as possible.
Book an appointment today to get started!