Single Touch Payroll (STP) Changes
All employers as of the July 1st 2019, will need to start using the new Single Touch Payroll (STP) system, as the ATO changes the way information is reported.
The Australian Taxation Office (ATO) has released a list of no-cost & low-cost single touch payroll software for businesses which can be viewed here - No-cost and low-cost Single Touch Payroll solutions
If you have existing payroll software (such as accounting software), this can be used to report the Australian Taxation Office (ATO), as long as it is updated to offer Single Touch Payroll reporting.
Timeline for Single Touch Payroll
- 1 April 2019: Headcount for the number of employees will need to be done.
- 1 July 2019: Employers with 19 or less employees (including micro employers) will need to be reporting through STP.
- 31 July 2019: STP will need to be implemented for all other employees of closely held entities.
- 30 September 2019: STP will need to be implemented for closely held employees.
If you have any further questions, or need your software updated please contact us on 1300 798 717 or firstname.lastname@example.org