Single Touch Payroll extended to all employers from 1 July 2019
Single Touch Payroll (STP) has been extended to include all employers (including those with 19 or less staff) from 1 July 2019. All businesses will need to be using STP enabled payroll or accounting software by this date.
STP is a way of reporting salaries, wages, pay as you go (PAYG) withholding, tax and super information to the Australian Tax Office (ATO) at the same time you pay your employees.
You may need to upgrade your software to ensure that it is STP compatible.
If you’re not sure if your software is STP compatible, you will need to talk to your software provider to see if you require an update.
Commissioner of Taxation, Chris Jordan, released a statement to reassure small businesses that the ATO will be adopting a supportive approach to assist with this move to real-time digital reporting.
“I want to reassure small business and give my personal guarantee that our approach to extending Single Touch Payroll will be flexible, reasonable and pragmatic,” Mr Jordan said.
The ATO intends to allow small employers to start reporting any time from 1 July to 30 September 2019.
The Commissioner said the ATO understands that more time may be needed for small businesses to implement STP or lodge reports.
“There will be no penalties for mistakes, missed or late reports for the first year,” he said.
If any small businesses do not currently use payroll software, the ATO will not be forcing employers with 19 or less staff to purchase it. Alternative STP reporting options will be available to these employers by the 1 July deadline.
The ATO have also released a list of software providers who have built, or intend to build, low-cost STP solutions (costing $10 or less per month).
If you need any assistance with implementing STP reporting, the ATO website has further details.
You can also call Intrust Super on 132 467, or email email@example.com, if you need any assistance with your superannuation payments.