Single Touch Payroll is the biggest change the ATO has introduced to business owners since the introduction of the GST in 2000.
As of 1 July 2019, ALL businesses that engage one or more employees must use Single Touch Payroll. STP is a way of reporting tax and superannuation information to the ATO.
All businesses that have employees must lodge the STP reports through an STP-enabled software solution. The ATO does not provide a software solution but there are many solutions available.
However, if you are already using a cloud accounting solution package such as Xero it has STP included.
Still lost? Check out our rough guide below or contact us.