Single touch payroll extended to all employers from 1 July 2019

Single Touch Payroll Extended to all Employers from 1 July 2019

Single Touch Payroll (STP) is currently only required for employers who have twenty or more staff, however from 1 July 2019 it will apply to all Australian employers – even those with only one staff member. This will be a gradual process and there are flexible options available.

So, what is STP?

STP is a reporting system that sends tax and super information from your payroll or accounting software to the ATO every time you pay an employee, effectively reporting year to date information to the ATO in real time. Employees will have access to this information as the reports flow in, as opposed to only being able to access this information at the end of the financial year.

STP is available through most businesses’ current payroll, accounting and business management software which should make it easier to implement the changes come July 1st. For some employers, this change may require a simple set-up in their existing accounting system. For others, it may require moving away from, or altering, legacy accounting methods to enable the Single Touch Payroll feature to work.

If you are not sure on what is required there are experts who can assist in reviewing your payroll software to ensure there are no errors and set up a compliant payroll system if required.

STP is not compulsory for smaller businesses until 1 July 2019 and although this seems like it is a while away it will creep up very quickly, so why not be prepared and implement the changes now? And do not stress about changing your payroll cycle as this can remain the same, whether it is weekly, fortnightly or monthly.

If this article has sparked any questions, please don’t hesitate to contact your Ledge Finance Executive directly or contact us here and we will be happy to put you in contact with experts who will be able to assist your business to implement this change.

View Business and Finance

The word tax written in white text on a black key on a keyboard

Preparing Your Business for Tax Debt Changes in 2025

The Australian government has recently announced that starting from July 1, 2025, the general interest charge (GIC) and shortfall interest charge (SIC) will no longer be deductible. The move to expedite tax debt recovery efforts has been undertaken due to the fact that there is currently over $50 billion in collectable tax debt outstanding. This debt is predominantly owed by small businesses. The aim of this move is to recover the outstanding tax debt at a faster pace, which will help to improve the overall financial health of the country and ensure that businesses are fulfilling their tax obligations. By...

A business lending graph with commercial skyscrapers in the background

What is Business Lending? How it Works & the Key Benefits

For many business owners, access to capital can be crucial for growth, investment, and even maintaining day-to-day operations. Business lending can serve as a vital resource, providing the necessary funds to achieve your objectives. So, what exactly is business lending, how does it work, and what benefits does it offer? Understanding commercial lending and the role it plays can be pivotal to the success of your business. Here we break down what you need to know about business lending, exploring its mechanisms, applications, and the advantages can bring to businesses ranging from small start-ups, to large corporations. What is Business...

What is Cyber Insurance? Padlocks on a coded background.

What is Cyber Insurance? How to Protect Your Business from a Cyber Attack

Cyber insurance, also known as ‘cyber liability insurance,’ is a type of insurance coverage designed to protect businesses from the potential losses and damages resulting from a cyber attack or data breach. With the increasing prevalence of cyber threats in today’s digital landscape, cyber insurance has become a vital component of risk management for Australian businesses, as it provides financial protection by covering various costs associated with cyber incidents – including investigation expenses, legal fees, notification costs, and more. Let’s explore the intricacies of cyber insurance and how it can safeguard your business against the ever-evolving threat of cyber attacks....

Pictured: ADENCO Managing Director, Christoff van der Schyff, Ledge Finance Executive Neil Ferguson, ADENCO Operations Director Alan Fenemer & ADENCO Commercial Director Richard Maher

ADENCO & RSK Australia: making waves in water management in the Pilbara

Since 2015, ADENCO Water Management & Civil Engineering has been a major player in the Australian resource and commodity industries. They have grown into the far north of WA, delivering integral water management solutions. ADENCO’s point of difference in the Pilbara In 2016, ADENCO secured their first major project with BHP followed by Roy Hill in 2018, and have since gone from strength to strength. Richie Maher, ADENCO’s Commercial Director, said the company’s primary footprint in the Pilbara, servicing the iron ore industry, and having an in-house skillset with a large fleet of heavy plant and equipment has played a...

View more Insights

Please note the information provided on this page is general in nature and does not constitute financial, taxation or other professional advice. You should consider whether the information is appropriate for your needs and seek professional advice prior to making any decisions.

Single touch payroll extended to all employers from 1 July 2019