Single Touch Payroll For Employers To Commence 1st July 2019 – Are You Ready?13th Jun 2019
JobMaker Hiring Credits: What We Know So Far
Accounting software is a must for Single Touch Payroll (STP) reporting and as such we have done our research and we recommend XERO software for payroll processing and reporting to the ATO.
For employers with up to 4 employees, it will cost $10 per month for a payroll only software and an additional $20 per month for the cashbook plan.
Here are some links with more information regarding the XERO STP solution:
Here is a list of other low cost solutions for STP which can be found from the link below:
If you already use payroll software check with your provider:
If they are STP compliant.
How to set up required to start STP reporting.
If they have a deferred start date for STP reporting.
Talk to your staff about STP:
Ensure the right people in your business know about STP – especially the person responsible for running your payroll Annual Payment Summary (Group Certificate) will no longer available under the STP reporting.
This is also a good time to ensure you are:
Paying your employees correctly.
Calculating your employees’ super entitlements correctly
Addressing overpayments correctly.
Maintaining accurate information including names, addresses, and date of birth records.
Cleaning up any anomalies in your payroll now will help to smooth the reporting process.
Apply for more time if you need it:
There are numbers of exemptions for certain employers to delay the start date of the STP reporting, for more info please refer to the link below:
If you have more questions regarding the STP reporting, please contact us to see how our accounting experts can help you.