From 1 July this year, Single Touch Payroll (STP) will apply to all employers in Australia. First announced in 2015, STP is an Australian Tax Office reporting regime that requires employers to report salaries and wages, PAYG withholding tax, and superannuation to the ATO each time they pay their employees.
According to the ATO, more than 400,000 small employers with up to four employees will need to adopt an STP solution before the end of September 2019. Many don’t currently use any software to manage their payroll.
Xero Payroll Only plan
Xero’s Payroll Only plan is designed for small businesses that employ one to four people in Australia. It is ideal for those who do not feel ready to adopt a comprehensive online accounting software but want to embrace online payroll to comply with STP.
Payroll Only offers complete payroll for up to four employees, including timesheets and leave requests.
It means a small business employer or their trusted advisor can report Single Touch Payroll information to the ATO quickly and easily – And it’s just $10 a month.
Find out more about Xero’s new Payroll Only plan, available for small business owners, bookkeepers and accountants today.