Small business payroll upgrade
Thursday, 11th July, 2019
By Callum Marshall
The Australian Taxation Office (ATO) is encouraging businesses with staff numbers less than 20 to switch over to ‘Single Touch Payroll’ (STP), an online payroll system.
The system streamlines the payroll process by sending tax and superannuation information directly to the ATO through the businesses’ STP-enabled software or through a third party such as a sending service provider.
Last year, businesses with more than 20 staff members switched over to STP meaning that, this tax time, up to nine million employees will report without payment summaries, using the information available online at the MyGov online portal.
Please log in to read the whole article.