What is the definition of Single Touch Payroll?

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 single touch payroll meaning is a digital payroll reporting system implemented by the Australian government, requiring employers to send employee payment and tax information directly to the Australian Taxation Office (ATO) each time payroll is run. This includes details of salaries, PAYG withholding, and superannuation contributions. STP simplifies compliance by eliminating the need for separate year-end reports or payment summaries. It ensures transparency, accuracy, and real-time access to payroll data for both employers and employees. The system supports automation and improves efficiency within business payroll processes across all industries in Australia.