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.

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

Design of Single Touch Payroll risks unintended consequences

The Association of Superannuation Funds of Australia (ASFA) has criticised the development of Single Touch Payroll, warning the ATO and Government of unintended consequences. One aspect of Single Touch Payroll, currently under development by the ATO, would allow employees commencing new employment to complete their superannuation standard choice form and… Read More »Design of Single Touch Payroll risks unintended consequences