Single Touch Payroll (STP) is the reporting system where wages, PAYG withholding and super liabilities need to be reported to the Australian Taxation Office (ATO) each pay period. From 1 July 2018, if you are an employer with 20 or more employees (whether full-time or part-time and certain casual employees), your payroll software must be STP compliant. Once single touch payroll is set up, your software provider will give you a software service ID (SSID), which you will need to provide the ATO.
For employers with 19 or less employees, from 1 July 2019, STP reporting will be mandatory for all employers (assuming the legislation passes through parliament as currently proposed).
If you need any assistance to ensure your software is STP ready, please give us a call.
Liability limited by a scheme approved by Professional Standards Legislation