Single Touch Payroll
The new Single Touch Payroll (STP) reporting framework will impact many employers in Australia from 1 July 2018.
Are you STP ready?
From 1 July 2018, ‘substantial employers’ will be required to report to the ATO certain payroll information via Standard Business Reporting software, which will be linked to the employer’s payroll system or outsourced payroll provider’s system. All employers are expected to be required to be compliant by 1 July 2019.
STP applies to employers who employ twenty or more employees as at 1 April 2018 (including wholly-owned groups that employ in aggregate twenty or more employees). The number of employees employed by an employer must be determined strictly by headcount and not with respect to full-time equivalent numbers.
Although the new STP framework is driven by taxation legislation, the challenges relate to operational implementation of the technical requirements into an employer’s business.
Our STP Readiness Workshop Assessment and our six dimension approach will help get you ready.Register now
Six Dimension Approach
Published: November 2017