Ahead of the implementation of single touch payroll legislation, MYOB and Xero have revealed STP solutions for businesses with four or less employees for an affordable price.

MYOB has announced that it will launch a $10/month STP solution for businesses with four or less employees but has refrained from committing to an exact date launch.

MYOB will also allow accountants and bookkeepers who use its Connected Ledger to add the STP payroll module for an extra $10 a month in a bid to capture micro business clients who are unable to process STP.

Likewise, Xero will launch two standalone products, including a new payroll-only product for up to four employees at an "expected price of about $10 a month", as well as the option for Xero partners to add Payroll to a ledger or GST cashbook subscription covering up to four employees, with the price yet to be determined.

For businesses that already have payroll software, you will only need to update it once it has been STP-enabled. Perrier Ryan can also report to the ATO through STP on your behalf.

Talk to Perrier Ryan about STP and your obligations today.

AccountantsDaily's article with more information can be found here.