Have you avoided Single Touch Payroll (STP) reporting? Things are about to change with the ATO reminding small employers, that is, those with fewer than 20 employees, that from 1 July 2021 you will be required to lodge STP for all employees including closely held.
Single Touch Payroll reports your employees’ wages, tax, and super information to the ATO. It
is done each time you finalise a payrun and from 21 July 2021, it is mandatory. It has also seen the
cessation of providing payment summaries at the end of the financial year. Instead, your STP is
finalised for the financial year and lodged with the ATO. This info can then be accessed by
accountants or by logging into your MyGov account to retrieve your digital payment summary
To be able to lodge STP and maintain compliance, you will need to ensure your software is STP
capable. We have seen a big push of clients moving from desktop accounting software into online
If you require any assistance with your STP setup or with migrating to a cloud-based solution, we
would love to run through your options and how best to keep you compliant. Please contact Kate in
our office with any questions you have.