PaysOnline are Single Touch Payroll (STP) ready
Single Touch Payroll – PaysOnline are ready, is your business?
Single Touch Payroll (STP) is the new payroll reporting system that will be compulsory for all businesses employing 20 or more staff from 1 July 2018, or 1 July 2019 if you employ less than 20 staff. With the date fast approaching, it is important that your business is taking the steps to become STP compliant. A Managed Payroll solution, such as PaysOnline, can help make this transition a little easier for your business.
Single Touch Payroll changes the way you report Pay as you Go (PAYG) and Superannuation information to the Australian Taxation Office. The Australian Taxation Office are introducing STP in the hope it provides real time visibility over the accuracy and timeliness of an organisation’s payroll processes, and aims to knuckle down on employers not complying with their superannuation contribution obligations.
As of 1 July 2018, employers are required to report PAYG and super after every payroll process rather than reporting monthly or quarterly.
You don’t need to worry about whether STP will change the way you process your payroll, you can still do it weekly, fortnightly, or monthly. STP simply changes what your payroll process reports to the ATO.
PaysOnline is STP Ready
PaysOnline has finalised its STP capabilities and have rolled have rolled them out to clients. Even though lodging of the reports won’t take place until 1 July – we want to streamline the process by familiarising clients with their additional responsibilities.
By outsourcing your payroll to a managed payroll provider such as PaysOnline, you can ensure you will meet your obligations.
Is your business STP ready? Managed Payroll may be the solution.
Unlike other managed payroll providers, PaysOnline is ready now to help your business meet its Single Touch Payroll obligations. Request a meeting with us today to discuss a solution tailored to your business.
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