Single Touch Payroll is coming, and Xero will be ready

, , , , ,
Single Touch Payroll

Original article by Sukesh Elati, Xero.

Australia’s 1 July deadline to adopt Single Touch Payroll (STP) is fast approaching. But if you or your clients are on Xero, there’s some good news: You may have extra time. Thanks to the ATO, Xero subscribers will have a deferral of as much as six months to ensure a smooth rollout of STP.

Xero will be ready for STP on 1 July. To ensure a seamless transition for our many subscribers, we’ll begin rolling it out to customers and partners on that day and in the months that follow.

The Xero platform will invite you to use STP when it’s time to make the switch. Until then, you can process payroll as normal, without incurring any penalty. It’s that simple.

We’re excited about the addition of STP to Xero Payroll, and we think you will be too.

We’ll have details on our STP implementation, educational webinars, and more in the coming weeks. In the meantime, rest easy and be assured that the move to STP will be a simple one on Xero.

Here are some FAQs for more information:

Q: How can employers document the ATO deferral, if needed?

A: Xero customers can use the ATO reference number 49410109.

Q: Who has to make the switch to STP?

A: All businesses with 20 or more employees, as of 1 April 2018, must use STP by 1 July 2018. But as noted, many Xero users will implement STP in the months that follow, with no penalty. We’ll enable all Xero Payroll subscribers for STP well before 31 December 2018.

Q: I have clients with fewer than 20 employees. Can I still move them STP?

A: Yes, once Xero has enabled STP for that client.

 

Read the original article by Xero here.

You can read our article, ‘What is single touch payroll and how does it affect me?’ for more information or contact us today.