Single Touch Payroll for P&Cs

Single Touch Payroll for P&Cs with paid employees

If your P&C has paid employees, you will have to comply with planned tax reporting changes in 2019.

The Australian Tax Office is planning to extend its Single Touch Payroll (STP) system (for employers to electronically report wages paid to their employees, tax withheld and superannuation accrued on their payroll) to ALL employers from 1 July 2019.

Employers with more than 20 employees should have already adopted STP.

According to the ATO website, software developers have also been tasked with building low-cost STP solutions at or below $10 per month for smaller employers with between one to four staff.