17 April 2019

Single Touch Payroll – We are here to help

Single Touch Payroll (STP) is a new way of reporting tax and super information to the Australian Taxation Office (ATO).

If you are using a solution that offers STP reporting, such as payroll or accounting software, you will send your employees’ tax and super information to us each time you run your payroll and pay your employees.

The information is sent to the ATO either directly from your software, or through a third party – such as a sending service provider.

If you have a software provider, they can tell you more about the type of STP solution they offer.

The ATO has also summarised a number of options available for employers who do not use payroll software, such as No-cost and low-cost Single Touch Payroll solutions.

Options will depend on your number of employees:

  • Large employers with 20 or more employees should now be reporting through STP, or have already started to lodge with the ATO.
  • Small employers with 19 or less employees will need to report through STP from 1 July 2019. As per the ATO this is a gradual transition, and they will providing flexible options if you’re an employer with four or less employees.

Implement yourself:
The most popular payroll solutions Xero, MYOB and Reckon have all released information regarding how their clients are to transition to Single Touch Payroll.  Please see the below links for further information.

Xero
MYOB
Reckon


Need Help:

Do not forget we are here to help. If you are not sure or need help with the setup of Single Touch Payroll please do not hesitate to contact us at Evans & Hearn Accountants Rockhampton on 0749276888 or email at eh@evanshearn.com.au and our in-house bookkeeper can help you make sure you are ready for Single Touch Payroll.