The next biggest compliance change for small business since GST is now law. From 1 July
2019, Single Touch Payroll (STP) will be compulsory for all employers in Australia.

STP requires employers to report to the ATO their employees’ tax and super information
within 24 hours of payment. This will give greater transparency to the ATO on unpaid PAYG
withholding and superannuation.

The ATO is currently in negotiation with software developers to build low cost STP solutions.

All employers should be planning on how to deal with this change in terms of software
needs and cashflow forecasting for on time payment of PAYG withholding and super.