Single Touch Payroll
With the latest version of your MYOB product, you will meet your STP obligations
Be ready for Single Touch Payroll with MYOB
Single Touch Payroll is almost here and MYOB is working directly with the ATO to ensure that you’re ready to go when it becomes mandatory on 1st July 2018 for businesses with 20 or more employees. The latest version of MYOB’s payroll enabled solutions will be compliant prior to the reporting date and deliver an easy-to-use solution to make this transition as smooth as possible. Single Touch Payroll will be a big change for a lot of businesses so make sure you are ready.
What is Single Touch Payroll?
Single Touch Payroll is an electronic method for reporting your employees' payroll information to the ATO at the same time you pay your employees.
As a result, businesses will no longer be required to complete payment summaries at the end of the financial year as it will have already been done and available to employees through myGov. You will report your employees’ payroll information (including salaries, wages, PAYG withholding and super information) directly to the ATO from your payroll solution.
What do I need to do?
Single Touch Payroll will be mandatory from 1 July 2018 for businesses with 20 or more employees. If you are not using the latest version of an MYOB product call us to get compliant.
How do I get ready?
To be ready for 1 July 2018, you will need to update to the latest version of your MYOB product that is Single Touch Payroll-enabled.