SINGLE TOUCH PAYROLL
What is it?
Single Touch Payroll (STP) is an electronic, same day system of reporting wages, PAYGW and super to the ATO. Employers will be required to use compliant software that provides all this information to the ATO on or before pay day.
Will it affect me?
If your business employs any staff, including yourself or family members, then you will be affected.
How much will it cost?
If you currently use an accounting package or payroll software and it is up to date then you should not have to pay any more than you currently do to enable STP.
If you don’t use any payroll software then please contact us to discuss your options. Becoming STP compliant is likely to cost you as little as $10/month while also making your payroll process more efficient.
What do I need to do?
If you subscribe to Xero and use it to process your payroll, and we have the necessary access to your subscription, then you will not need to do anything – we will switch on STP for you on or before 1 July 2019.