Dates are confirmed for Single Touch Payroll to roll out to small businesses with less than 20 employees from 1 July 2019 and 1 July 2018 for employers with more than 20 employees. So what exactly is STP? IN short it means that when any “pay event” happens, it will be reported to the ATO.
Click HERE to read a great article from Cheryl Knight from Accountants Daily where STP is explained in paymans terms. Cheryl covers implications to annual payment summaries, when PAYG is paid, what exactly is reported and how one will deal with errors.
