STP will be mandatory for all Australian businesses by 1 July

18 February 2019

Australian businesses who employ 19 or fewer employees will have until 1 July 2019 to get ready for mandatory Single Touch Payroll (STP) reporting.

The requirement is already in place for businesses who employ 20 or more staff, which became mandatory on 1 July 2018.

As reported by Accountants Daily, ABS data shows approximately 781,908 businesses will be affected, representing 36.8% of all Australian businesses.

The ATO has compiled a list of low-cost Single Touch Payroll solutions to help businesses get prepared, you can view the list here

You can also choose to engage your registered tax agent to undertake your Single Touch Payroll requirements.

For more information on Single Touch Payroll compliance and the payroll services we provide, contact Louise Atkins at Shakespeare on 9321 2111 to discuss how we can assist with your business payroll needs.

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