Single Touch Payroll
Single Touch Payroll for all employers
Single Touch Payroll (STP) is an Australian Government initiative to streamline business reporting obligations, and ensure employers are reporting and paying their employees’ super entitlements.
STP, or pay day reporting, uses existing business processes (processing payroll) to report employees’ tax and super information to us at the same time they’re paid.
Using a STP-enabled solution, or a third party provider that does, an employer can send their employees’ salary and wage information, pay as you go (PAYG) withholding and super information as they run their payroll and pay their employees.
The Commissioner of Taxation released a statement highlighting the approach the ATO will be taking for small business transitioning to Single Touch Payroll.
What does this mean for your stakeholders?
Employers can start reporting any time from 1 July to 30 September 2019.
If they can’t start reporting by this time, they’ll need to apply for a later start date.
- The ATO has published a list of no-cost / low-cost options for micro employers (those with 1-4 employees).
- The ATO has developed a number of concessional options for employers with closely held payees.
- Micro employers can report quarterly through their tax agent when they submit their BAS for the first year.
- For small employers that make a genuine attempt to switch to STP, there will be no penalties for mistakes, missed or late reports for the first year.
- The ATO will provide exemptions from STP reporting for employers experiencing hardship, or in areas with intermittent or no internet connection.
- Single Touch Payroll for Small Employers
- Single Touch Payroll for Closely Held Payers
- The way you get your payment summary is changing
- Finalising your STP data
- Video: Get ready for STPExternal Link – Business reporting is changing, all employers need to get ready for Single Touch Payroll and start reporting anytime between 1 July and 30 September 2019.
Events – Webinars for small employers
The following Webinars were previously held early this year. The links below provide you with a recording of this event.
|More webinars and webcasts can be found at: www.ato.gov.au/stpresources or by entering QC54705 in the search bar.|
Find all our information at: www.ato.gov.au/stp
News, events and resources: www.ato.gov.au/stpresources
No-cost and low-cost payroll solutions for micro employers: www.ato.gov.au/stpsolutions