All information in this article, which pertains to the ATO’s Single Touch Payroll obligation, was sourced from the Australian Taxation Office and payroll software providers. Deloitte Private has published this information in its Help Centre to assist you with STP and have not verified or tested its accuracy.
What is Single Touch Payroll (STP)?
Single Touch Payroll is the ATO’s next step in streamlining your payroll reporting. It is a new reporting obligation that changes the way you report your employees’ payroll information to the ATO.
From 1 July 2018, employers with 20 or more employees (as of 1 April 2018) will be required to report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to the ATO when paying their employees. This means the ATO will have real-time access to Australian payroll data linking PAYG to Business Activity Statements (BAS) and Superannuation Ordinary Times Earnings Calculations.
When will STP come into effect?
Will QuickBooks/Intuit (KeyPay) be STP enabled by 1 July 2018?
Yes. KeyPay will be ready before 1 July 2018.
How will I report my STP obligations through KeyPay?
Refer to the KeyPay product knowledge for information on how to report STP.
What do you need to do now?
Please refer to the checklist to ensure you are ready for Single Touch Payroll by 1 July 2018.
Want to know more?