Single Touch Payroll (STP) is altering the way businesses in Australia report their salaries, wages, PAYG withholding and superannuation to the Australian Tax Office. Instead of typically reporting payment once at the end of a financial year, you will now be required to send information to the ATO with every pay run using your cloud-based software. STP is a more regular and streamlined way of receiving payroll and superannuation data from employers.
Large employers with 20 or more employees should now be reporting through STP, or have applied to the ATO for a later start date. Small employers with 19 or less employees will need to report through STP from 1 July 2019.
If your business is at risk of non-compliant of STP, please contact our office for a consultation regarding your STP options on (08) 9345 0499.
To all our valued clients, On Wednesday the 12/06/2019 our firm will be hosting a Tax Seminar and one of the topics we cover will be STP, if you are interested please inquire within before the 5/06/2019. *Limited Seat availability*