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25 Feb Single Touch Payroll (STP) – what is it?

How many employees do you have?

The first thing employers have to do is to establish on 1 April 2018 the number of employees they have. If you have more than 20 employees, you have to enter the STP from 1 July 2018. If you have less than 20 employees the entry date is 1 July 2019 (subject to legislation being passed).

How and what do I have to report?

You will be required to electronically report your payroll information to the ATO every pay cycle using STP enabled payroll software.

The information to be reported to the ATO includes

  • Salaries and wages, allowances, and deductions (such as workplace giving), for the pay period and the year-to-date figures
  • Pay as you go withholding and super information for the pay period and year-to-date figures
  • The employees’ employment commencement date

If you need help with selecting the right STP payroll solution or require assistance with setting up your STP system or have any question – give us a call.

TOPICS: Payroll, Tax

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