Single Touch Payroll is here: Your top queries answered
Summary
We’re fresh into the new financial year, and there’s change afoot – as of 1 July, Single Touch Payroll (STP) legislation has kicked in for all employers across Australia. The Xero team is revisiting some of the most commonly asked questions from our community – and connecting you with the answers and resources you need to stay on top of all things STP. Instead, the ATO will now make this information directly available to employees online through their individual myGov accounts, in what is called an ‘income statement’. One of the key changes that employees may notice as part of the transition to STP is that payment summaries will no longer be issued at the end of the financial year. Instead, the ATO will make information reported by an employer directly available to an employee online through their individual myGov account.
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