Does Single Touch Payroll system (STP) apply to your business?
Only if you employ staff.
When does STP start?
It starts for all Australian Businesses from 1 July 2019.
What are the additional compliance requirements after 1 July 2019?
Under this new system all pay runs are required to be submitted to the Australian Taxation Office (ATO) upon completion of each pay run.
What do I have to do before 30 June 2019?
You need to activate your Xero/software system with the ATO to start submitting pay runs post 1 July 2019.
STP Guidance - Short video (2 min)
Link: STP - Short Video
This video provides guidance on the following:
- Activate with ATO
- Submit pay runs
STP Guidance - Long Video (25 min)
Link: STP - Long Video
Learning objectives of video:
Single Touch Payroll (STP) is changing the way employers report employee wages to the Australian Taxation Office (ATO). Learn about how it affects your business, and how Xero helps to make the process of getting up and running on STP simple. Whether you’re new to Xero Payroll or just need more information about STP, this session has you covered.
Outline of video:
- What is STP and why is it important for a business
- Set up payroll ready for STP
- How to opt in to STP in Xero
- How to fix errors when filing a pay run to the ATO
- Update the registered details for STP
- Where to go for help