Single Touch Payroll coming – be ready with Xero

1 July deadline to adopt STP fast approaching

But if your business is 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 Single Touch Payroll (STP).

Xero will be ready for STP on 1 July.

To ensure a seamless transition for our many Xero users, Xero will begin rolling it out to customers and accounting 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. 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. Xero will enable all Xero Payroll subscribers for STP well before 31 December 2018.

Q: I have fewer than 20 employees. Can I still move to STP?

A: Yes, once Xero has enabled STP.

Let Omnis Group show you how to harness the power of technology to transform your business! Call us in Subiaco Perth on 08 9380 3555 today.

Source Xero