RSM Australia

Single Touch Payroll

From 1st July, Single Touch Payroll (STP) will apply to all employers. 

STP is a reporting system introduced by the ATO which came into effect 1st July 2018. It involves the reporting of payroll payments, PAYG and superannuation directly to the ATO for every pay run that is made. 

Single Touch Payroll has been a requirement for businesses with 20 or more staff from mid-2018.
The new legislation now requires every employer – even those with only one staff member – to use the online reporting system from July this year.

Employees include full-time, part-time, casual, overseas, absent, and seasonal staff employed by your business. It does not include independent contractors, staff provided through labour hire, or company directors or officeholders.

Superannuation Guarantee Amnesty

Still Time to Act - Superannuation Guarantee Amnesty

Time is running out to make any voluntary employer superannuation contributions to the ATO, under the Government’s Superannuation Guarantee Amnesty. The deadline for the submission is 7 September 2020, with no further extension possible, under the legislation.
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Top five farming cloud applications every farm must consider

The introduction of Single Touch Payroll from 1 July 2019 for most small businesses including farms was the catalyst for them to review their current cashbook software package and in some cases, take the first step in to the world of cloud accounting.
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Business has changed again - is it time to update your business systems?

Many businesses were planning to put 2019 behind them and were looking forward to 2020 with some optimism.  However, with the impact COVID-19 being felt by all, the first quarter of 2020 has not gone to plan.
Fringe benefits Tax

Fringe Benefits Tax - Tips and Traps for the 2020 FBT year

With most employers now using Single Touch Payroll (STP), the Australian Taxation Office (ATO) has access to real-time information about employers and their employees.  

RSM wins the 2019 Xero Enterprise Partner of the Year award

We are delighted to have won Xero’s Enterprise Partner of Year award!

Are you Single Touch Payroll ready?

The deadline is fast approaching for small businesses to be registered and lodging their payroll information to the ATO using the Single Touch Payroll (STP) reporting system. Are you registered and lodging? If not, you have a small window to register and start lodging!

Six technology investments every SME must make

With technology continuing to improve through the impending advent of 5G and as mundane business processes become automated, the opportunities for SMEs could be limitless. In this edition of thinkBIG, we highlight and explore six of these technology investments every small business must consider. 

Asset protection vs tax optimisation

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

Single Touch Payroll - Ins & Outs for Employers

The Single Touch Payroll (STP) compliance date is here. Whilst if you have over 20 employees you should already be reporting through STP, employers with less than 20 workers will need to start on 1 July 2019.

Big change for small business - Get ready for STP

There are further compliance changes in the wind for businesses.  The Government is in the process of implementing a new reporting system which is focussed on streamlining payroll procedures.  This will impact on employer and employee alike.

Single touch payroll - soon mandatory for every employer

The ATO has followed through on plans to improve digitisation of tax reporting and returns, making it mandatory for all employers to use Single Touch Payroll from 1 July 2019.

Single Touch Payroll Reporting – Clarity for small employers?

After considerable delays in the Senate, small employers now have some clarity surrounding the implementation date for Single Touch Payroll reporting (“STP”).  The Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017 was passed by the Senate on Wednesday 5 December 2018 with a proposed amendment.

Single Touch Payroll reporting is coming - employers take note!

Employers with 20 or more employees will need to change the way they report to the ATO from 1 July 2018.  Single Touch Payroll (“STP”) is a new reporting system the ATO has introduced. STP involves the reporting of payroll payments, PAYG and superannuation directly to the ATO for every pay run that is made.