Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO.
- Large employers with 20 or more employees should now be reporting through STP or have applied to ATO for a later start date.
- Small employers with 19 or less employees will need to report through STP from 1 July 2019.
If you are using a solution that offers STP reporting, such as payroll or accounting software, you will need to send your employees' tax and super information to ATO each time you run your payroll and pay your employees.
The information is required to be sent to ATO either directly from your Accounting software, or through a third party – such as a sending service provider.
Here at Optima Accountants we can help you take this headache away by setting your business up with appropriate software so every payroll run is reported to ATO accurately and in timely manner thus making you compliant with the ATO.