Single Touch Payroll: big accounting software companies have got your back

Posted by Kelly Morgan on 03-May-2018 09:05:41

Single Touch Payroll
is almost here and will affect over 100,000 businesses who are paying 13 million employees from July 2018. A government initiative, single touch payroll (STP) is designed to simplify the reporting for payroll for those employers with 20 or more employees. While they currently only report on individual payments such as salaries and wages, PAYG withholding and super once a year at the end of the financial year, as of July 1, 2018 they will need to report this to the ATO at the same time they pay their employees.

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Topics: ATO, Xero, quickbooks, MYOB, Accounting software, Single Touch Payroll, Superstream, STP, Accounting