Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019.
What is Single Touch Payroll?
Single Touch Payroll is an ATO initiative to encourage real time digital salary reporting for employers. This means that you will be required to report salaries and wages, PAYG withholding, and superannuation information, every time you pay your employees.
STP legislations means that many small businesses will now move to digital payroll technology. Trinity Accountants can assist this process by moving your business to the online business technology called Xero. Xero is one of the most innovative cloud-based accounting packages on the market. With the ability to bring bank feeds directly into the system, it is a simple way for your business to comply with its bookkeeping obligations., including the STP legislation.
With Xero, payroll reporting does not have to be something that takes MORE TIME, in fact, by adopting Xero into your business, it will save time and money and decrease errors. We can show you how to do this, please get in touch so we can explain this further.