Single Touch Payroll – Are You Ready?

New mandatory salary and super reporting requirements called Single Touch Payroll (STP) are commencing 1 July 2018. Hooray you say, “yet another regulation from the ATO!” It’s ok if you’re a bit concerned about what to expect so first of all, let’s take a look at what single touch payroll is.

STP is a Government initiative that will change the way you report on your payroll to the ATO. If you are a business with 20 or more employees, STP is mandatory from 1 July 2018. For businesses with 19 or less employees, your deadline for mandatory reporting is 1 July 2019. Although, you can choose to opt in now if you want to.

Under STP, businesses will report directly to the ATO on salary or wages, PAYG withholding as well as superannuation. All electronically and all at the same time you pay your employees. This new streamlined reporting to the ATO will make it easier for employers to meet payroll processing obligations and for employees to view their information and lodge annual tax returns.

To help you understand how STP works and to make sure your business and employees are ready for these changes, download our Single Touch Payroll Guides below. Our team are here to help you navigate this new area of reporting, so if you need any help in reviewing your software and payroll processes or you have any questions, please give us a call.

Single Touch Payroll – Employer Guide and Checklist

Single Touch Payroll – Employee Guide