Resources to help understand and implement Single Touch Payroll (STP)
STR is a significant change for business tax compliance, though for now those businesses that need to make this charge have 20 or more employees. Changes take effect on 1-7-2018, 12 months later for businesses with less than 20 employees.
In short, this change means that ‘you will report payments such as salaries and wages, pay as you go (PAYG) withholding and superannuation information from your payroll solution each time you pay your employees.’
The information and links listed below will help you quickly check or double check what you need to do to comply. If you are having trouble or want to discuss cash flow and tax implications then ask your accountant. But, above all, do not delay in getting ready for this change.
Daniel Beydoun & Co.
Phone: (02) 9264 1124 | Fax: (02) 9264 1125 | Suite 603, Level 6, 321 Pitt Street, Sydney NSW 2000 | PO Box A262, Sydney South NSW 1235 | info@dbc.net.au Liability limited by a scheme approved under Professional Standards Legislation
