Here’s a new acronym to add to your burgeoning HR lexicon. STP. It’s shorthand for Single Touch Payroll, the new payroll reporting regime that will be compulsory from 1 July 2018 for all businesses employing 20 or more staff.
If you have fewer than 20 staff, you’ve got until 1July 2019 to make the move and become compliant (though this part of the legislation has yet to be passed).
New reporting requirements for PAYG and super
Single Touch Payroll is a…Continue