STP is a new way of reporting information to the ATO and is done on a ‘real time basis’.
Broadly, under STP, employers (or a third party on their behalf) send details of their employees salary and wages, PAYG withholding and superannuation information, electronically, to the ATO from the employer’s payroll or accounting software each time they run their payroll system to align the reporting (to he ATO) of its payroll obligations, with its pay runs.
It is important to understand that STP is a reporting change only.
