Newsletter; Single Touch Payroll (STP) for everyone
From 1 July 2019, all businesses need to report payments such as salaries and wages, PAYG withholding and superannuation information each time they pay their employees (there are no changes to the timing of payments of PAYG withholding and superannuation).
From 29 January 2019, the ATO will write to small employers already using payroll software about STP and advise them that if their payroll software offers STP they can update their software and start reporting now.
STP was introduced on 1 July 2018 for businesses with twenty or more employees. Most software packages are ready for STP, the option just needs to be enabled.
QuickBooks https://quickbooks.intuit.com/au/payroll/single-touch-payroll/
Xero https://central.xero.com/s/article/Set-up-Single-Touch-Payroll-STP
MYOB http://help.myob.com/wiki/display/ar/Set+up+Single+Touch+Payroll+reporting
The information collected by the ATO will also be reported to employees through their myGov account. Superannuation funds will also be required to report employer superannuation payments to the ATO so both the ATO and employees will be able to track unpaid employee superannuation.
Micro employers (one to four employees) will have a number of alternate options such as initially allowing your registered tax or BAS agent to report quarterly, rather than each time you run your payroll.
