Businesses must submit a report to the ATO each pay day, including employee salaries, wages, PAYG withholdings and super, and these reports must be submitted using a solution that is single touch payroll compliant.
With STP, you no longer need to prepare a payment summary annual report or payment summary for each employee. You simply let the ATO know when you’ve made your last pay run of the financial year.
Employees can see the information that would normally appear on their payment summary by logging into their myGov.
We know adopting new technology and embracing change can be daunting. That’s why at Nortons, we’re here to help you find payroll and online accounting software that will make the process seamless.
Want to ensure your business is single touch payroll ready? Get in touch - we’re here to get you started.
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