What is single touch payroll?

[niyati]

I’ve been hearing about Single Touch Payroll (STP) in accounting software and compliance updates. Can someone explain what it actually means and how it works for small businesses? Is it mandatory in all cases?

 

[stevesmith]

Single Touch Payroll (STP) is an Australian government initiative aimed at simplifying the process of reporting employee wages, tax, and superannuation. It requires employers to report this information directly to the Australian Taxation Office (ATO) each time they pay their employees, instead of submitting end-of-year summaries or annual tax returns.

 

[jatin]

Single Touch Payroll (STP) is an Australian government program that requires employers to update payroll-related information about their employees, such as wages, taxes, and superannuation, with the Australian Taxation Office (ATO) whenever they make payments to their employees. STP simplifies reporting and provides tax and super changes in real time. Most Australian businesses require it.

 

[robertwilliam]

Single Touch Payroll (STP) is an Australian government initiative that requires employers to report salary, wages, Pay-As-You-Go (PAYG) withholding, and superannuation information to the Australian Taxation Office (ATO) (ATO) each time they pay their employees.

 

[Mayank]

Single Touch Payroll (STP) is an Australian reporting system where employers send employees’ tax, superannuation, and payroll information directly to the ATO each payday, ensuring accurate, real-time reporting and compliance with tax and superannuation obligations.

 

[Jarwish]

Single Touch Payroll (STP) is an Australian government system that requires employers to report employees’ pay, tax, and superannuation information to the Australian Taxation Office (ATO) each time they run payroll, instead of reporting it separately at the end of the financial year.

 

[Mayank]

Single Touch Payroll (STP) is an Australian reporting system where employers electronically send employees’ salary, tax, and superannuation information to the Australian Taxation Office each pay run, ensuring accurate, real-time payroll reporting and compliance.