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March 29, 2019

Don’t leave it until the last minute – get organised for STP now.

Cashflow, Small Business, Women in Business

Single Touch Payroll or also known as STP or one touch payroll will be mandatory for all businesses in Australia from 1 July 2019.

 

Small businesses only employing family members have a 12 month extension until 1 July 2020.

 

Otherwise all other businesses in Australia will need to be ready by 1 July 2019.  So please don’t leave this until the last minute.

 

STP requires businesses to electronically report to the ATO on or before each pay cycle wages, allowances, super and PAYG withheld paid.

 

A side benefit is that once STP is set up there is no need to issue PAYG Payment Summaries any more.  If you set up STP prior to 30 June 2019, your employees will access their 2019 PAYG Payment Summaries in their MyGov account.

 

Xero our preferred provider is STP compliant and the instructions to link your Xero file to the ATO are here https://www.xero.com/au/campaigns/single-touch-payroll/

 

If you need any help or are not already using a STP compliant software program, please contact us so that we can help you get organised.

 

 

 

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