Single Touch Payroll (STP) is a new reporting system introduced by the Australian Taxation Office (ATO) which comes into effect by 1 July 2018 for organisation with 20 or more employees.  From 1 July 2019, it will include employees with less than 20 employees.

According to the ATO, STP is designed to make the reporting requirements and compliance requirements of the payroll system easier.  STP will encompass your PAYG Withholding and Compulsory Superannuation.

Refer to Taxation Administration Act 1953, Schedule 1, Section 389 – 1.

If you would like to discuss further please contact us:

McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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