Single Touch Payroll Guide

• What is Single Touch Payroll?
  • Single Touch Payroll (STP) is a government initiative for automated reporting of tax and super information to the ATO, using enabled payroll, accounting, and business management software.
• Why do I need to use STP?
  • This is a mandate by ATO to streamline business reporting and keep up with the digital age.
  • Reporting using STP makes it easier for employers to meet payroll processing obligations.
  • It guarantees full superannuation entitlements and better transparency for employees.
• How do I report using STP?
  • The information sent using STP depends on the software you use.
• How does STP work?
  • As you run your payroll, the STP enabled payroll software will automatically send reports to the ATO on information such as salaries and wages, pay as you go (PAYG) withholding, and super information.
• When should I start reporting using STP?
  • Large businesses (with 20 or more employees) have already started reporting using STP since July 1, 2018
  • Small businesses (with 19 or less employees) will need to report through STP from July 1, 2019
• What do I need to be STP ready?
  • Basically, you’d need an STP enabled payroll software. But why bother going through all that trouble? Avail any of the service packages Vision Consulting Group offers and start your way to becoming STP compliant today!