Single Touch Payroll (STP) is an Australian Government initiative that mandates employers to report tax and superannuation details to the ATO every payday. STP streamlines payroll processes, improves transparency, reduces administrative burdens, and enhances compliance. Employers use STP-enabled payroll software to send employee details, gross wages, PAYG withholding amounts, and superannuation contributions to the ATO. At the financial year’s end, a finalisation declaration confirms the accuracy of all reported data, allowing employees to access their income statements via myGov.