Single Touch Payroll is almost here
If your business has employees, you need to do a headcount as of 1 April to determine when you need to start using Single Touch Payroll (STP). If you have 19 or more, than this new way of submitting your payroll information to the ATO applies to you from the 1st of July 2018.
STP is simply a reporting change. Instead of doing ATOPS (ATO Payment Summaries) for employees and PSAR (Payment summary annual report) annually to the ATO you report your figures each time you make payment. Which means your software has to be STP enabled, so that is simply sent through to the ATO via your accounting/payroll software.
If this is something that affects you now and you are not sure what to do, please get in touch so I can help get you ready and give you the information you need.
If you are less than the 19 employees as at 1 April, you won’t need to use STP until 1 July 2019 – this legislation has yet to be passed.
ICB Australia reference – Which employees do you count ??
