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Do you know what Single Touch Payroll is? STP is now in its second year…
New mandatory salary and super reporting requirements came in to place last year, commencing 1 July 2018.
Single Touch Payroll (STP) is a government initiative that changed the way businesses report on their payroll to the ATO from July 2018.
Under STP, businesses are required to report on salary or wages, pay as you go (PAYG) withholding and superannuation directly to the Australian Taxation Office (ATO), electronically, and at the same time as their employees are paid.
This new streamlined reporting to the ATO is making it easier for employers to meet payroll processing obligations, and employees to view their information and lodge annual tax returns.
If you’re still not sure what Single Touch Payroll is, to help you understand how it works, download your Single Touch Payroll Guides below.
Our extraordinary team are here to help you. Please feel free to call us on 4931 1100, or email us at firstname.lastname@example.org for help in reviewing your software and payroll processes from the Acumon Team anytime.
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