Get your practice STP ready
From guides to tips, we’ve gathered all the tools you need to help get your Practice Single Touch Payroll ready with Xero.
Get your clients STP sorted
From checklists to brochures, we’ve gathered all the resources you need to help get your clients Single Touch Payroll compliant with Xero.
Single Touch Payroll (STP) reporting is a new way of reporting tax and superannuation information to the ATO. Xero is STP ready and available for anyone who wants to report salaries and wages, PAYG withholding and superannuation directly to the ATO with confidence and security.
Single Touch Payroll applies to all small businesses in Australia. Xero is Single Touch Payroll ready so you can start reporting at any time.
You simply need to make the adjustment in an unscheduled pay run > file this pay run using STP > complete the finalisation process for that employee again. Full steps are covered under 'Fix an employee's finalised STP data' on Xero Central.
Single Touch Payroll works by sending tax and superannuation information from your payroll or accounting software to the ATO as you run your payroll. The way STP information is sent will depend on the software you use. With Xero Payroll connecting to the ATO is done just a few simple clicks. Employees will be able to see their YTD tax and superannuation information through myGov. See the ATO website for further information.
When an organisation is opted in for STP, they're no longer able to produce payment summaries. Instead, employees can access these through their MyGov accounts.
You should only opt in once you want to start filing using STP. Once you've opted in, you won't be able to opt out again.
ETP payment summaries are treated the same as the normal payment summaries. Once opted in to STP, these can no longer be produced, and employees will instead get this infomation through MyGov.