Our friends at Xero have written a comprehensive blog article explaining STP. Rather than re-hash this info we are linking over to their blog.
For our current Xero clients we are working through our list and offering assistance, for a small fee, with reviewing payroll and registering for STP.
ATO also have a comprehensive section of their website dedicated to STP. We welcome STP as we feel this will even the playing field for businesses. STP will force ALL businesses to report their PAYG tax and Super obligations to ATO each pay run rather than at end of quarter or end of year. This will give ATO more visibility on those employers not meeting their obligations allowing them to take earlier action against those breaking the rules.
Does your business run STP compliant software?
IF you are running Xero you certainly do have STP enabled software. Many other software providers also have STP ready software.
If you are not sure give us a call and we can get you organised before the due date.