Single Touch Payroll (STP) is an ATO initiative to streamline payroll reporting. You’ll be able to report payroll and super information from AccountRight to the ATO at the same time you process a pay run.
Here's a quick overview:
A couple of great resources to help you learn more about Single Touch Payroll are:
You’ll notice a new field in some of your payroll categories, STP Category. This will be used for Single Touch Payroll reports, which some employers may need to start lodging from 1 July 2018. Although you can map these now (see the tips below), it is not mandatory yet.
The ATO guidelines for these are not available yet – but check back soon!
Things to do now
There are no tasks for you to complete in AccountRight yet.
Soon we’ll prompt you to start reviewing your employee and payroll information to make sure it meets the needs of STP reporting.
On 1 April 2018 you’ll need to do a headcount of your employees. This is a headcount – not the full time equivalent (FTE) number.
Do you have 20 or more employees?
You’ll need to start reporting payroll and super information using Single Touch Payroll from 1 July 2018.
Instructions on how to get ready are coming soon.
You don’t need to use STP reporting now, it's only optional.
But, watch this space. All employers may need to start reporting using STP from 1 July 2019, subject to new legislation being passed.