Single Touch Payroll Jul-19


Single Touch Payroll Jul-19

Flor- Hanly - Sunday, March 24, 2019

Single Touch Payroll (STP) changes the way employers report their employees' tax and super information

Using payroll or accounting software that offers STP, employers send their employees' tax and super information to the ATO each time they run their payroll and pay their employees.

single touch payrollThe information is sent to the ATO either directly from the software or through a third party, such as a sending service provider. Software providers can tell you more about how they offer STP reporting.

Employers with 20 or more employees

STP reporting started gradually on 1 July 2018 for substantial employers (those with 20 or more employees).

If you have not started reporting through STP, we have information to help you get ready. If you need more time, you can apply for a deferral.

Find out if your software is STP-ready by talking to your software provider. The team at Flor-Hanly can also help.

Employers with 19 or fewer employees

Parliament has passed legislation to extend STP reporting to all employers from 1 July 2019.

Talk to your software provider to find out what you need to do to update your software and start reporting.

Different STP reporting options will be available by 1 July 2019 to help smaller employers. However, the ATO won't force employers with 19 or fewer employees to purchase payroll software if they don’t currently use it.

The ATO has asked software developers to build low-cost STP solutions at or below $10 per month for micro employers – including simple payroll software, mobile phone apps and portals. 

Micro employers (1–4 employees) will also have a number of alternative options that are not available to employers with 20 or more employees – such as initially allowing your registered tax or BAS agent to report quarterly, rather than each time you run your payroll.

Exemptions to STP reporting will also be available if you have no internet or an unreliable connection.

Contact Flor-Hanly Accountants in Mackay before the 1 July deadline if you have any questions or concerns about STP or any other ATO reporting matters, on 07 4963 4800.

Source ATO

Connect with us whatever way you like!