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).
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.
There are a large number of suppliers offering software solutions for small to medium-sized businesses. We are happy to recommend the right product for your business, as well as providing you with comprehensive training. Call us in Ballina or Byron Bay on 02 6686 3000 today or read more.