Single Touch Payroll (STP) is the new way of reporting tax and super information in real time to the Australian Taxation Office (ATO).
Each pay cycle, you’ll be sending employees’ tax and super information directly to the ATO from your accounting software or payroll provider.
From 1 July 2019 employers with 19 or fewer employees are required to use STP and must jump on board before 30 September.
STP is intended to keep pace with digital admin capabilities to deliver a bunch of benefits, including:
STP reporting is now available through most payroll, accounting and business management software systems. If you have a software provider, talk to them about the STP solution they offer.
If you don’t, don’t worry. There is a number of low and no-cost reporting* solutions for you.
There’s a lot of information on the ATO website**, including a handy checklist^. Take a look.
For help with your STP options, contact Energy Super’s Steve Scott on 0437 398 432.