Single Touch Payroll (STP), is an Australian Government initiative to reduce reporting burdens across government agencies.
With STP, you report employees' payroll information to us each time you pay them through STP-enabled software. Payroll information includes:
salaries and wages
pay as you go (PAYG) withholding
STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees.
If you haven't started reporting through STP, you need to start reporting as soon as possible.
We have provided a number of concessions depending on the business, industry, or employer type. These will largely end as of 1 July 2021 and you will need to be reporting each pay day through STP by this date. #Accounting #Bookkeeepper #Affordable #Payroll #GST #BAS