Single Touch Payroll is coming!
ARE YOU READY?
Huge changes are coming to the way small business's reports its employee tax and super obligations to the ATO.
Following legislation that passed on 12 February 2019, it has now been agreed that STP will apply to all smaller employers (those with less
than 20 employees) from 1 July 2019.
No matter how many staff you employ (even one or two), the STP rules will still impact you, even if you don’t currently use a payroll software package (and we know that many small employers still prepare payrolls manually).
If you want to stay on the ATO's good side and keep your business compliant, then using a payroll or accounting software that offers Single Touch Payroll (STP) is the answer.
Don't worry, MYOB makes it as easy as possible to automatically report to the ATO.
WIth a touch of a button Employers send their employees' tax and super information to the ATO each time they run their payroll and pay their employees.
With STP, employers no longer need to complete payments summaries and group certificates at the end of the financial year. That's now taken care of every time you pay your employees as their tax and super information is sent to the ATO and available to them through myGov.
Check out the video by clicking on the link below.
Call us today on 039747-0255 to talk to one of our accountants to make sure your business is STP ready.