The Australian Taxation Office (ATO) is encouraging small employers (with 19 or less employees) to follow the lead of nearly 45,000 Australian employers who have been successfully reporting through Single Touch Payroll (STP) since 1 July 2018.
These employers are now reporting their employees’ salaries and wages, pay as you go withholding and super information to the ATO from their payroll solution each time they pay their employees.
ATO Assistant Commissioner John Shepherd said while it’s not mandatory for small employers to report through STP, they can choose to get on board when their software is ready.
“If you use online or cloud-based payroll software you may be able to start reporting now by updating your software to one that is STP-ready. You should talk to your software provider about when your product will be available,” Shepherd said.
Shepherd also reassured smaller employers that a number of different STP reporting options will be made available to them, including low cost and simple STP reporting solutions.