|What is Single Touch Payroll? |
AccountRight Plus, Premier and Enterprise, Australia only
Single Touch Payroll (STP) is an ATO requirement which will change changes the way you report payroll payments, including:
- salaries and wages
- pay as you go (PAYG) withholding
- superannuation information
It’ll simplify your ATO reporting because you’ll be able to do it directly from your payroll software at the same time as you pay your employees. This means you’ll be able to meet your ATO reporting obligations at the same time you pay your employees, instead of running a separate process. It will also make EOFY a breeze because you’ve already reported your payroll activity throughout the payroll year.
Learn more about the requirements of Single Touch Payroll on the ATO website:
Streamlined reporting with Single Touch Payroll
Single Touch Payroll for employers
Single Touch Payroll for employees What do
. Learn more about what MYOB are doing at myob.com/stp
Do I need to do use STP reporting?
Right nowIf you pay employees, you don’t need to do anything. The ATO is still testing Single Touch Payroll functionality with a limited number of businesses.
On 1 April 2018 count your employees. This is based on a headcount – not the full time equivalent (FTE).
If you have 19 or fewer employees, you can choose to report through Single Touch Payroll.
If you have 20 or more employees, you’ll need to implement Single Touch Payroll by 1 July 2018.
Your payroll cycle won’t change. It simply means that when you complete a pay run, the earnings, tax and super information for each employee will be sent to the ATO.
What is MYOB doing?
MYOB is working closely with the ATO to ensure our payroll software products have Single Touch Payroll functionality in advance of the 1 July 2018 deadline.
We’ll provide additional information on Single Touch Payroll when it becomes available'll most likely need to report to the ATO via STP from 1 July 2019. But if you're not sure, check with the ATO.
How do I use STP reporting?
AccountRight v19 is not compatible with Single Touch Payroll reporting. To report your payroll activity via STP, you need to upgrade to AccountRight 2019 (an AccountRight subscription entitles you to an upgrade). Once you've upgraded you can set up Single Touch Payroll reporting.What if I can't upgrade just yet?
The following features aren't available yet in the new AccountRight, so if you use any of these in AccountRight v19 you might not be able to upgrade just yet:
- M-Powered Payments – we're building a replacement for this feature that works in the new AccountRight. If you can't upgrade because you currently use M-Powered Payments in AccountRight v19, we've worked with the ATO and you have been granted a deferral from STP reporting until 31 December 2019. Learn more about this deferral
- a third-party multi-currency add-on – there's an API limitation in the new AccountRight which affects writing to multiple currencies. Check with the add-on vendor to see if your add-on is compatible with the new AccountRight. If you can't upgrade due to the API limitation, you have been granted a deferral from STP reporting until 31 December 2019. Learn more about this deferral
- negative inventory – not supported in AccountRight 2019. If you need to keep using negative inventory, call us to discuss your options on 1300 793 130 (Australia), or 0800 60 69 62 (New Zealand).
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Do you use a third-party add-on? Check here or with your add-on provider to make sure the add-on is compatible with the new AccountRight.