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It’s time to move to Single Touch Payroll
Single Touch Payroll (STP) reporting is here and it’s time to make the move. The ATO guideline is that employers should have transitioned to STP by 30 September 2019.
STP changes the way you report your employees’ tax and super information to us. You now need to report salaries and wages, pay as you go (PAYG) withholding and super information to the ATO each time you pay your employees.
Xero, MYOB and QuickBooks all have STP solutions built into their software so talk to us today about taking the next step to implement the solution that best suits your small business. Alternatively, book a Chat but be quick because 30 September is fast approaching.
Single Touch Payroll isn’t too far away
Single Touch Payroll (STP) is a new initiative from the ATO to report your employees’ payroll information. If you pay 1-19 employees, you will need to be compliant between 1 July and 30 September 2019.
Once you’re set up, you will send your employees’ salary, tax and super info to the ATO after each pay. This means no more payment summaries at the end of the financial year. Instead, your employees can access their payroll information through the ATO’s online service MyGov.
Xero, MYOB and QuickBooks all have STP solutions built into their software.
Talk to us today or Book a Chat about taking the next step to implement the solution that best suits your small business but be quick because 1 July is fast approaching.