What is Single Touch Payroll (STP)?

Single Touch Payroll (STP) is a Government initiative for employee Superannuation Guarantee and PAYG Withholding amounts to be automatically reported to the ATO during the payroll process.

Large employers (20 or more employees) had to use Single Touch Payroll from 1 July 2018.

Small employers (19 or fewer employees) may have to use it from 1 July 2019, depending on the passage of legislation.

Single Touch Payroll will be an “early warning” system for the ATO

Single Touch Payroll will be an early warning system for the ATO, allowing it to know far earlier than is currently possible that employer superannuation contributions haven’t been paid. Senior ATO officials told the ASFA Policy Roadshow that Single Touch Payroll will “give us visibility of an employer’s SG obligation;… Read More »Single Touch Payroll will be an “early warning” system for the ATO

Draft Bill targeting Superannuation Guarantee underpayment released

The Government has released draft legislation aimed at cracking down on Superannuation Guarantee underpayment. A draft of the Treasury Laws Amendment (Taxation and Superannuation Guarantee Integrity Measures) Bill 2018 has been released for consultation. If the draft Bill is passed the ATO would have the power to disclose information to… Read More »Draft Bill targeting Superannuation Guarantee underpayment released