This is information that will be of interest to people who are self-managing or share-managing and hiring their own workers.
Single Touch Payroll (STP) is a way of reporting tax and super information to the Australian Taxation Office (ATO). Generally, if Employers are using a payroll or accounting software, that offers STP reporting, their employees’ tax and super information will be sent to the ATO each time payroll is done. The information is sent to the ATO either directly from the software, or through a third party, depending on the arrangement.
There are a number of options available for Employers who do not already use payroll software, such as No-cost and low-cost Single Touch Payroll solutions.
Please go to https://www.ato.gov.au/business/single-touch-payroll/ for more information on Single Touch Payroll and on the no-cost and low-cost options.
Currently, most ABN holders are already using STP enabled payroll software.
However, WPN holders have an exemption and do not need to start reporting using STP until 1 July 2022. Please go to https://www.ato.gov.au/Business/Single-Touch-Payroll/Need-more-time/Exemptions/ for more information on the exemption.
Click the button below for the WAiS Resource about Single Touch Payroll.