Single Touch Payroll (STP) is a new (for some), compulsory way to report payroll information to the Australian Taxation Office (ATO). If you’re a small business owner, you were meant to be registered by 30 September 2019.
Need help? Reach out to your boring accountants!!
STP doesn’t have to be scary but it does have to be done. And whilst we are getting you organised, you may learn few things here and there that save you time that you can spend working on your business rather than in your business.
There are many low cost solutions for the single touch payroll (STP) reporting so if you need help to chose, do not hesitate to contact us. We can help you with the initial setup, processing the payroll or give you training on how to do it yourself.
The government brought the additional reporting in to fight the black economy and make all businesses competitive. (it is much easier to keep your prices down if you don’t pay taxes or your staff super) While it can be seen as extra hassle, it may actually help lot of small businesses to think about their figures, budget better and survive longer.