In 2019, Federal Parliament passed a legislation announcing all businesses with 19 or fewer employees will now have to report under Single Touch Payroll (STP). This means that every pay run you now need to digitally report your year-to-date figures to the ATO via STP-enabled software (that’s salaries and wages, PAYG withholding, and superannuation information).
We all know that payroll is an essential part of running a successful small business, and ensuring we have our systems running smoothly is vital. However, some 30 percent of small businesses are still not on a digital platform and as a result are missing out on many efficiencies and productivity benefits that could help their business grow.
In this podcast, Tori van der Donk, Managing Director of Aegis Business Services shares some key tips on how we can make our transition and use of STP easier.
This episode is brought to you in partnership with our friends at Xero. Whether you lead a small team or are going it alone, Xero is online accounting software designed to help you do business beautifully and simply. For a limited time, you can get 50% off new Xero plans for the first three months when you purchase before 30 June, 2021. T&Cs apply.
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