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by Mike Sweeney

Single Touch Payroll (STP) requires employers to send the ATO payroll information with each pay-run rather than in a summary at year end.  For employers with 20 or more employees it has been in place since 1 July 2018.  With legislation before parliament, which is expected to be passed shortly, this will extend to all employers from 1 July 2019.

Employers should start considering now how they are going to meet the continuous reporting requirements and make sure they have systems in place before the deadline.  If you are already using a payroll software package (such as Xero, MYOB or Reckon) you will be able add this function to your normal payroll process without too much headache.  If you are currently preparing your payroll manually or in a package which doesn’t support STP, you will need to consider choosing a payroll solution which provides this functionality.   To help, the ATO released a list of low-cost STP software providers:

https://www.ato.gov.au/business/single-touch-payroll/in-detail/low-cost-single-touch-payroll-solutions/

Lee Green has already assisted a number of employers which meeting their STP obligations.  Please contact us to help you choose, install and setup the best solution to suit your needs.

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The Lee Green team has services, expertise and experience to help you make the right financial decisions for you or your business. Please contact us:

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Kent Town SA 5071

Lee Green & Co Pty Ltd ACN: 008 215 094 ABN: 76 008 215 094

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