Payroll, super and FBT

Single Touch Payroll (STP)

Single Touch Payroll is the way employers report payroll information to the ATO each time they pay their employees, using payroll software that is able to send the report. The report covers items such as salary and wages, PAYG withholding and superannuation, and it is sent on or before payday. Because the ATO receives the information through the year, employees can see their income statement in their ATO online account, and employers no longer issue payment summaries for amounts reported through STP. An employer must finalise the STP data at the end of the financial year. A practice that handles payroll for clients needs software that supports STP and a person authorised to submit.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.