Smaller employers – when to use Single Touch Payroll
If you are an employer with 19 or less employees, you should consider switching to reporting through Single Touch Payroll (STP).
Though you are not yet required to report through STP, you will be from 1 July 2019. If you use online or cloud-based payroll software, you may be able to start reporting now.
You will need to report payments such as salary and wages, Pay As You Go (PAYG) withholding and super information when you pay your employees.
Low-cost Single Touch Payroll solutions for micro businesses
A range of simple, low-cost Single Touch Payroll solutions is available in the market from early 2019. These solutions will best suit micro employers (with one to four employees) who need to report through STP, but do not currently have payroll software.
There is a list of software companies on the ATO website that intend to develop solutions for micro businesses.
Your tax professional at Walker Wayland AMD will be able to assist you in meeting your STP obligations. This may save you the expense of obtaining your own STP software. Talk to us before 1 July 2019 to help you decide what to do about meeting your upcoming STP obligations.