Single Touch Payroll – where are the advisors?
Only 5% of advisors have raised STP with their clients
That’s the alarming statistic from Attaché’s Single Touch Payroll (STP) presentations to over 150 companies.
We are now less than three months until STP becomes law for businesses with 20 or more employees. These medium businesses in particular rely on their accountant or business advisor to keep them on top of compliance requirements.
The most common reasons as to why it hasn’t been raised include:
- Mistaken belief that STP is for payroll software providers and the ATO to resolve
- Not realising STP is compliance
- Not having heard of STP
- Banking on the compliance date being pushed out like we saw with SuperStream.
Have you outgrown your payroll system?
Reduce the time and cost of managing your payroll and make better use of your employee data with a full-featured and tax office compliant payroll system.
Download the STP Checklist
Single Touch Payroll involves more than getting your payroll software updated. You can prepare your business by following this checklist.
Talk to a specialistTo enquire about any Attaché product or find your local expert, contact us.