It's time to move to Single Touch Payroll
Single Touch Payroll (STP) is here, make the move by September 30, 2019.
STP changes the way you report your employees' tax and super information to the ATO. You now need to report salaries and wages, pay as you go (PAYG) withholding and super information to the ATO each time you pay your employees.
If you already use STP-enabled payroll software start reporting now and you won't have to worry about missing the deadline.
If you're not ready you can do one of these three things before 30 September 2019:
- Go to ato.gov.au/stpsolutions and find a software solution that meets your needs. Once you have a solution you can start reporting.
- talk to your tax or BAS agent about concessional reporting options available to you. These options will depend on your individual circumstances.
- Apply for more time if you won't be able to start reporting by the deadline.
With over 400,000 employers already reporting through STP, it's important to engage with the ATO before 30 September, even if it is to ask for more time.
If you require any assistance please contact The Money Edge or visit ato.gov.au
The Money Edge | Bundaberg