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Single Touch Payroll (STP) Webinar
Single Touch Payroll is here, are you ready?
Missed our recent webinar on Single Touch Payroll (STP) but don't want to miss out? The record is available for on demand viewing below together with links to download slides and resources.
What we covered:
What is Single Touch Payroll
When do I need to register
Getting started with STP using Xero
Frequently asked questions, key dates and resources
Larger employers have already commenced reporting under STP and will be making their first annual declaration shortly. For small employers, STP becomes mandatory from 1 July 2019 and you must have your STP software solution in place and opt in before 30 September 2019.
Single Touch Payroll (STP) will change the way you report annual payroll information to your employees at the end of the year. Understanding this change and determining when is the best time for your business to opt in is critical to ensuring a smooth transition for you and your team.
On demand viewing:
Watch our webinar recording here:
Additional resources:
Companion Slides: STP Webinar Slides (PDF 2.18MB)
Factsheet for Employees: n75191_employee_factsheet.pdf
Suggested payslip message for final pay run:
Please note: The way you get your payment summary is changing. payment summary information will now be available via your ATO online services account through myGov and will be called an ‘income statement’. For more information visit ato.gov.au/incomestatement
Suggested email to employees when STP Finalisation Report is submitted:
Subject: IMPORTANT MESSAGE | Your income statement is tax ready
The way you get your payment summary is changing. payment summary information will now be available via your ATO online services account through myGov and will be called an ‘income statement’.
This can be viewed in the following ways:
1) ATO online services via myGov
2) your employer
3) via your tax agent.
After 1 July the ATO will send a message to your myGov Inbox when your income statement is tax ready so you or your registered tax agent can then lodge your tax return.
Your year-to-date pay and super information is also available to you throughout the year in your ATO online services account. For more information visit ato.gov.au/incomestatement
Want to learn more?
You can also read our blog post at https://www.ocpartners.com.au/blog.html.
Do you need assistance getting started?
If you would like to discuss STP enabled software solutions, exemptions, or simply require assistance getting started, contact us on (03) 9738 7500 or info@ocpartners.com.au for more information.