Earlier this year the ATO introduced Single Touch Payroll (STP) for all employers with more than 20 employees. This means pay information must be reported directly to the ATO on or before each pay date.
As businesses adapt to the new payroll process, they have been turning to the flexibility of NetSuite and Infinet Cloud Payroll. Together they keep it nice and simple by handling STP directly. All it takes is a few extra clicks at the end of a pay run to remain compliant.
The introduction of STP has provided an excellent opportunity for businesses to consider improving and optimising internal processes for a more compliant and efficient reporting model. After all, Single Touch Payroll involves more than just upgrading your software, it affects your entire organisation.
Request a free business systems health check to determine whether your business systems can achieve greater efficiency through better digital payroll processes and solutions.