Single Touch Payroll (STP), is an Australian Government initiative to reduce employers’ reporting burdens to government agencies.
With STP, you report employees’ payroll information to us each time you pay them through STP-enabled software. Payroll information includes:
- salaries and wages
- pay as you go (PAYG) withholding
STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees and is a mandatory obligation.
ATO Penalties will occurs if not specifically exempt or differed before starting date
More information on ATO:
Expanding data collected from STP
This expansion of STP (also known as STP Phase 2) reduces the reporting burden for employers who need to report information about their employees to multiple government agencies. It also supports the administration of the social security system.
Employers will report the additional information through STP on or before each pay day.
The mandatory start date for STP Phase 2 reporting will be 1 January 2022.
- If Bilateral Solutions manages your payroll, we inform you that we have already upgraded our own software solution to be fully STP compliant on your behalf.