Everything you need for Single Touch Payroll
It’s not too late, get STP compliant before your next pay run and don’t get caught out.
What is Single Touch Payroll (STP)?
Single Touch Payroll (STP) is a new, compulsory way to report payroll
information to the Australian
Taxation Office (ATO). If you’re a small business owner, you
have until 30 September to make the change.
But don’t stress. To make the switch to Single Touch Payroll (STP), at MYOB we’re here for you — every step of the way. Once set up, STP only takes a few minutes to complete each pay period. Free up time, resources and money to focus on the more important things. Business as usual, but better.
Be Single Touch Payroll ready
How to get started? If you’re already a MYOB customer, good on you. MYOB Essentials and AccountRight customers have built-in STP access already included. Desktop version? No stress. Update your MYOB software and you are good to go.
If you’re new to MYOB, welcome. Sail into simple STP solutions for your business with 50% off for the first 3 months. That means simple, hassle-free tax for only $5 per month. Still have questions? Or need help making the transition? We’ve got you.
How to be STP compliant in 3 easy steps
If you’re not already using online STP-enabled payroll software, it’s time to get started. At MYOB, we offer small businesses three easy, affordable, STP-compliant options. Simply think about how many employees you have and what features you’ll need, in order to choose which product best suits you.
It’s time to create your account. But don’t worry – it’s not all boring admin. This process only takes a few minutes once you have everything at hand. You’ll need to provide employee details and business information, then assign category types for different pay items. Lastly, notify the ATO you’re ready to go with just one phone call.
Done. You’re all set up. Now nothing can hold you back from meeting your STP obligations. Just keep paying your employees as usual, whether that’s weekly, fortnightly or monthly, and give them a payslip – you’ll see a step that pushes reports directly to the ATO after each pay run is complete.
Need support? We've got your back.
Change can be scary. At MYOB, we're here for you. Whether you'd like someone to talk you through the set-up process, or how to use STP for the first time, we've got lots of information on Single Touch Payroll our team is ready to chat. We also have plenty of free resources to share, including MYOB Expert Training.
Call us for help on 1800 290 837
Single Touch Payroll FAQs
STP is a government initiative that requires all employers to report payroll information to the Australian Taxation Office (ATO). It involves electronically reporting your employees’ payroll information to the ATO each payroll cycle, whether you pay weekly, fortnightly or monthly. STP is mandatory from 1 July 2019, and all Australian businesses must comply by 30 September 2019.
Single Touch Payroll (STP) uses internet cloud
accounting software to submit information to the tax office
online. Employers can automate and streamline their processes and
keep their accounting data accurate and up-to-date. Having better and
timely information at their disposal enables them to make
better-informed business decisions as well as sharing essential
payroll information with the ATO more easily.
- One-click compliance
- No more EOFY summaries
- Error-free payroll
- Employee access to payslips
Single Touch Payroll (STP) means businesses don’t need to complete payment summaries and group certificates at the end of financial year. STP software automatically sends your employees’ tax and superannuation information to the ATO.
STP helps employees, too. They no longer have to wait until EOFY to
see their tax information. Their details - salary, PAYG withholding
and super— is readily available via their myGov account.
Single Touch Payroll (STP) began from 1 July 2018 for employers with 20 or more employees. But it’s now mandatory from 1 July 2019 for Australian businesses of all sizes. If you’re an employer, you have until 30 September 2019 to comply. MYOB makes this easy with simple, affordable STP payroll software. If your business isn’t using an MYOB STP ready product yet, explore our products to start using STP today.
If you’ve already subscribed to a MYOB product that includes payroll, you can start using the Single Touch Payroll (STP) feature now. All you need to do is pay your employees as usual (weekly, fortnightly or monthly) and give them a payslip. Your STP-enabled payroll software sends a report directly to the ATO. Or, if you use an accountant or bookkeeper to process payroll, they can set this up for you. Have a chat with them to ensure you comply.
To find out more about STP, you can check
the ATO's website.
Latest articles to help you with Single Touch Payroll
5 things to discuss with staff about STP
For those offering payroll services, rolling out a seamless transition to single touch payroll (STP) means discussing these important points with staff early on.
5 things to discuss with clients regarding STP
Single Touch Payroll (STP) is here, but that doesn’t mean everyone in business has a firm understanding of the concept, or its ramifications for their business. In this piece, Amanda Gascoigne covers the key things every advisor should discuss with their clients regarding STP.