Single Touch Payroll (STP) Is Mandatory from 1 July 2018 – Is Your Business Ready?

From 1 July 2018 onward employers with more than 20 employees must use Single Touch Payroll Reporting.

Single Touch payroll means that when you report your payroll, the tax, super, allowances, deductions, etc are all reported to the ATO immediately and will also be listed on your MYGOV account.

For businesses with 19 employees or less your deadline for mandatory reporting is 1 July 2019.

You will need to ensure the payroll system you are using is updated for the Single Touch Payroll.

Some new software packages such as cloud-based Xero, MYOB should be compliant.

For further information refer to ATO Website,
https://www.ato.gov.au/business/Single-Touch-Payroll/

2018-09-04T15:45:22+00:00Categories: Business Tips, Payroll, Uncategorized|