From the 1st July all employers must be lodge Single Touch Payroll (STP) through compatible software such as Xero, MYOB or Quickbooks.
You will report payments such as salaries and wages, pay as you go (PAYG) withholding and superannuation information from your payroll solution
What You Need to Know
- At least one pay run needs to be filed using STP before you can finalise your STP data for the financial year;
- You will need to add Reportable Fringe Benefit Amounts (RFBA) while reviewing each employee’s data or add an exempt amount;
- You don’t need to process your STP Finalisation before you do your first pay run in the new financial year;
When you successfully
Your accounting software may be capable of reporting STP already. If you’re not sure get in contact with us.