Single Touch Payroll
All businesses are now required to submit STP effective 1 July 2019.
Are you ready for the change?
What is Single Touch Payroll (STP)?
Single Touch Payroll, also called STP or one touch payroll, is an initiative from the ATO to encourage frequent salary reporting. This means employers will be required to report salaries and wages, PAYG withholdings, and superannuation, every time employees are paid. From 1 July 2019, all Australian small business owners are required to report their payroll information.
STP reporting is currently available through payroll, accounting and business management software such as Xero and MYOB. Most software providers are offering STP-enabled products. Please get in touch with KSR so we can best figure out a solution for your payroll needs.
How has the legislation changed?
Until recently, legislation made it compulsory for businesses with 20 or more employees to digitally report payroll details to the ATO. It is now mandatory for all employers in Australia to report their payroll solution, often through software-based programs, from 1 July 2019.
How can we help?
Digital connectivity is becoming a necessary part of running a business in Australia. Our team at KSR have vast experience with implementing digital payroll solutions for businesses and have a range of different products available to suit all organisations needs. Give us a call, Pop in for a chat or send an email.