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.

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

Force small employers to use Single Touch Payroll to fight black economy

The Government should extend Single Touch Payroll to small employers to help combat superannuation non-payment in the black economy, says a superannuation industry body. One aspect of Single Touch Payroll is the electronic reporting of payroll information to the ATO. The reporting of payment of salary and wages, PAYG withholding… Read More »Force small employers to use Single Touch Payroll to fight black economy

Single Touch Payroll may push employees to choose sub-standard fund

Single Touch Payroll could pressure employees to choose a super fund without information about investment returns or fees, Industry Super Australia has argued. Part of the Single Touch Payroll initiative is a digital superannuation standard choice form, currently being developed by the ATO. Industry Super Australia says that employees may be pressured… Read More »Single Touch Payroll may push employees to choose sub-standard fund