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The ATO has announced that Single Touch Payroll (STP) reporting will be compulsory for all employers from 1st July 2019.
So what exactly is Single Touch Payroll (STP)?
It is a system of direct reporting of salary and wages, PAYG withholding and superannuation to the ATO which will replace paper forms for Employees Payment Summaries.
The requirements come into effect for all employers from 1 July 2019, even if a business has only one employee.
So all employers need to start preparing now for STP and be ready from 1st July.
If you already have a payroll software in place, you can take advantage by opting-in early.
For more information on STP:
If you still unsure what you need to do, please feel free to contact us, we are here to help.
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