Powered by MOMENTUM MEDIA
Receive the latest mybusiness newssign up
Companies line up to offer STP options

Companies line up to offer STP options

Digital technology

Plans to create alternative Single Touch Payroll (STP) solutions for microbusinesses are progressing, with more than two dozen companies being named among those to have submitted proposals to the ATO.

The tax office previously announced that micro employers (those with four or fewer employees) would not be forced to purchase accounting software in order to meet the rollout of STP to smaller businesses.

Indeed, ATO commissioner Chris Jordan appealed in late November for businesses not to panic over the incoming reporting system, reiterating that an alternative solution would be offered to microbusinesses.

In a statement, the ATO said: “We expect to see a range of simple, low-cost Single Touch Payroll (STP) solutions available in the market from early 2019. These solutions will best suit micro employers (with one to four employees) who need to report through STP, but do not currently have payroll software.”

It said that 31 different companies have so far lodged proposals for low-cost STP solutions. The ATO will only accept and allow systems that cost below $10 per month, do not require the business to maintain the software and are simple to use — i.e. taking only a few minutes to use for each pay period.

Such offerings can include mobile apps, web portals and “simple reporting solutions”.

The ATO, while not endorsing any of the suppliers to have lodged proposals, listed them as:

SPONSORED CONTENT

 

  • AccXite Pty Ltd
  • Australian Payroll Professionals Holdings Pty Ltd
  • Bass Off Pty Ltd
  • Cristabel Pty Ltd
  • Easy Payslip Pty Ltd
  • Employment Hero Pty Ltd
  • E-Payday Pty Ltd
  • Etax Accountants Pty Ltd
  • Free Accounting Pty Ltd
  • Globe BD
  • Govt Reports
  • Intuit Australia Pty Ltd
  • Lodgeit Pty Ltd
  • Ironbark Software
  • Myaccountant Technology Pty Ltd
  • MYOB Australia Pty Ltd
  • OB Secure Messaging
  • Ourmapof
  • PricewaterhouseCoopers
  • Reckon Australia Pty Ltd
  • Single Touch Pty Ltd
  • SRI Enterprise Software Pty Ltd
  • Total Forms (Catsoft)
  • Xero Australia Pty Ltd

Single Touch Payroll is a digital reporting system currently being rolled out to employers across Australia.

It became mandatory from 1 July 2018 for employers with 20 or more staff members, and is scheduled to be expanded to cover all employers from the 2019–20 financial year.

Companies line up to offer STP options
mybusiness logo
FROM THE WEB