STP stands for Single Touch Payroll and is an initiative aimed at making the payment of superannuation and other entitlements occur at the same time that wages are paid.
Single Touch Payroll enables employers to integrate payments directly to employee’s super accounts via information that is entered at the setup and configuration stage of setting up a new employee.
Now employees have less chance of not being paid their superannuation entitlements by small AND large businesses that go into receivership or become bankrupt because they are paid at the same time as wages.
Learn more about Payroll Training Courses that includes Single Touch Payroll
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