01 Apr Single Touch Payroll will change the way you report your tax and super
This text is from an email dispatched by the Australian Tax Office on 6-March 2019.
Single Touch Payroll (STP) is a new way for employers to report tax and super information to the ATO. It starts from 1 July 2019 for employers with 19 or less employees.
You’ll report the following information through an STP ready solution – such as payroll software:
- payments to employees such as salaries and wages
- pay as you go (PAYG) withholding
- super information.
The way you pay your employees won’t change, however you will be sending us this information each time you pay them.
Start reporting any time from 1 July to 30 September 2019. If you can’t start reporting by this time, you’ll need to apply for a later start date. An online tool to help you do this will be available on our website in April.
How to get started:
- If you already use payroll software – check to see if it offers STP reporting by talking to your software provider or viewing their website.
- If you don’t use payroll software – you can choose an STP ready solution or talk to your tax professional for advice on the best solution for your business.
- If you use a registered tax or BAS agent – you can ask them to report through an STP ready payroll solution on your behalf.
- If you have 1-4 employees – you can choose a low-cost STP solution.
Find out more at ato.gov.au/STPsolutions