Are you ready for Single Touch Payroll?

Do you have employees? Are you prepared for STP?  If not, now is the time to prepare as 1 July is fast approaching. By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…here is what do you need to know and how it affects you and your business: What is Single Touch Payroll? Single Touch Payroll…  Read more

How do I prepare for STP?

STP Reporting timelines STP (Single Touch Payroll) for is now upon us for employers with 19 or less employees not just those with 20 plus employees. Employers with 20 plus employees that qualified commenced reporting STP as of 1 July 2018, whereas smaller and micro businesses are now expected to get themselves STP-ready come 1 July 2019. The Australian government has just announced “Treasury Laws Amendment (2018 Measures No. 4’…  Read more

Are you ready for STP yet?

STP Reporting STP (Single Touch Payroll) is not too far away now for those employers with fewer than 20 employees. The Australian government is forging ahead with plans for employers to report STP come 1 July 2019. “Treasury Laws Amendment (2018 Measures No. 4) Bill 2018” has been passed by the House of Representatives and the Senate – and although it needs to go back to the House of Representatives, it…  Read more

Are you ready for Single Touch Payroll Yet?

From 1 July 2018, employers with 20 plus employees (as at the head count from 1 April) will be required to report payroll information to the ATO using software that is STP compliant.  Although this is a big change for business MYOB, Xero and QBO have assured us their software will be ready for businesses to report STP if eligible. For those businesses that have less than 20 employees reporting…  Read more

Single Touch Payroll – A step by step guide to help you prepare your MYOB software for STP

Prepare your MYOB software for Single Touch Payroll   The first thing an employer needs to do is to conduct a head count of the staff on 1st April including your casual, part-time and full time staff.   You can exclude casual workers who didn’t work during the month of March 2018.    Also, exclude directors and contractors. If you have more than 20 staff you need to prepare for Single Touch…  Read more

Single Touch Payroll – starts 1st July 2018

Single Touch payroll (STP) will be a reality on 1st July 2018 for employers with 20 or more staff and 1st July 2019 for employers with 19 or less staff. Tax File Declarations, Payment Summaries and EMPDUPE will no longer be needed. Instead, businesses will be required to report their wages, PAYG and superannuation for each employee whenever an employee wage is paid. The information will be reported directly to…  Read more