Single Touch Payroll
Single Touch Payroll (STP) is a change to the way employers reports their employees’ tax and super information to the Australian Tax Office (ATO). Employers with 20 or more employees are now required to report this data electronically each time they run their payroll and pay their employees.
From 1st of July 2019 STP will be mandatory for all companies, subject to legislation passing in parliament
Real Estate Manager Version 6.0 will include support for Single Touch Payroll. Clients who process their wage and commission payments with Real Estate Manager will be able to send STP data to the ATO with the click of a button. With each wage and commission payment a new report will be shown with all the STP data to be sent. Simply verify that the data is correct and it will be sent to the ATO.
When you are using STP your employees’ will be able to view their payment information in ATO online services, which they will access through their myGOV account.
While STP is already required for all companies with 20 or more staff, Real Estate Manager clients receive an automatic deferral from their STP obligations until STP support is available with Real Estate Manager v6.0.
For more information on STP visit https://www.ato.gov.au/Business/Single-Touch-Payroll/About-Single-Touch-Payroll/