Issue

Does Class support Single Touch Payroll for SMSFs that pay members via an income stream?

Resolution

Currently, Class does not support this functionality.

Our understanding is that income streams from SMSF's do not have Single Touch Payroll (STP) obligations. STP is designed to support businesses (i.e. employers) to pay their employees to make the existing process easier. A payroll system or process is required to implement such (i.e. STP).

More information on this can be found on the ATO website.