Single Touch Payroll

Single Touch Payroll (STP) is coming – are you ready?

 

What is STP?

It is the new ATO requirement that will change the way tax and super reporting is managed.  It means that employers will report payments such as salaries, wages, PAYG withholding and Super information DIRECTLY from their payroll solution at the same time as paying their employees.

 

Does it affect me?

Eventually, all employers will be required to comply. Currently it only affects businesses employing more than 20 people.  This started on 1 July 2018.

 

From 1 July 2019 it will include smaller business with less than 19 employees. Transition provisions will be available.

 

What do I need to do?

Check out the ATO information on Single Touch Payroll

 

If you would like to discuss this or any topic further, please email:  mail@watsonerskine.com.au