AccountRight Plus, Premier and Enterprise, Australia only
What is Single Touch Payroll?
Single Touch Payroll is (STP) an ATO requirement which will change 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. Learn more about what MYOB are doing at myob.com/stp
What do I need to do?
You need to do a headcount of your employees as at 1 April 2018. This is a headcount – not the full time equivalent (FTE) number. The ATO website explains more about this headcount.
Did you have 20 or more employees on 1 April 2018?
You don’t need to use STP reporting now, it's only optional. But all employers may need to start reporting using STP from 1 July 2019, subject to new legislation being passed.
You can implement Single Touch Payroll by 1 July 2018 by upgrading to the new AccountRight (an AccountRight subscription entitles you to an upgrade). Once you've upgraded, take a glimpse at how the new AccountRight will help you set up Single Touch Payroll reporting.
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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
- negative inventory
- multi-location stock tracking
If you can't upgrade because of any of the above, we've worked with the ATO and you have been granted a deferral from STP reporting until 31/5/2019.
Deferral numbers were communicated by email. Keep the number handy in case the ATO get in touch with you about your STP deferral. However, you’re not required to proactively contact the ATO. If you need any assistance in finding the deferral number, please contact MYOB support via LiveChat or by calling 1300 555 123.
For the latest info on Single Touch Payroll, check our website ( myob.com/STP ).