Single touch payroll (STP) is the new system from the Australian taxation office for reporting employee payments, tax withholding and superannuation payments.
As of 1st July 2019 STP is a requirement for all employers other than those with ‘closely held’ payees i.e. someone who is directly related to the business, company or trust. Businesses that use STP do not need to produce payment summaries at the end of the year as all information is available to employees via their MYGOV account.
We partner with and utilise Reckon Software to enter and lodge payroll information, this system provides up to date payroll information for you and your employees.
Here at Brien’s Taxation Service we can prepare and lodge your STP Reporting on your behalf directly with the Australian Tax Office per your business reporting requirements.