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Single Touch Payroll has started… (well sort of)

July 16, 2018

Single Touch Payroll has started… (well sort of)

STP

 

Single Touch Payroll has started…
(for employers with 20 or more employees as at 1 April 2018)

Is your software STP compliant?
Is your software’s STP functionality enabled?
Have you advised the ATO of the software you will be using to comply with STP?

Each software package is handling the STP implementation differently.

There are STP deferrals in place for some software including certain versions of MYOB AccountRight and Xero products.  To check if you are covered by one of these deferrals, contact your software provider or your Cooper Reeves advisor.

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We note the Xero is rolling out the STP implementation in a staged approach from September until December 2018.  If were on xero prior to 1 July 2018, they will contact you when its time to make the switch.

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You will need to be on the latest MYOB AccountRight version (2018.2.1) to be fully STP compliant.  You will then need to assign the payroll categories to ATO reporting categories and following the prompts to starting reporting to the ATO.

STP represents a fundamental change to the way payroll is reported in Australia.  It involves new processes for employers, software providers and the ATO.  If you have any questions during this transition period, please contact your Cooper Reeves advisor.

Xero Accounting Software
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