Single Touch Payroll (STP) is an Australian Government initiative which streamlines the reporting of tax and superannuation information to ATO. This will offer most business a chance to improve their payroll process. Using STP-enabled software, you send your employees’ salary and wage, tax withheld and super information to ATO each time you pay them.
This means you:
- report payroll information to ATO each time you pay your employees
- report super liability information to ATO
- won’t need to give your employees a payment summary for the information you’ve already reported and finalised through STP.
For more information about STP or your company’s payroll in general, please feel free to contact us. We will help you take away the hassle of dealing with payroll so you can focus on your business.