Single Touch Payroll (STP) Commences 1st July 2018

SINGLE TOUCH PAYROLL: NEW PAYROLL REPORTING REQUIREMENTS EFFECTIVE 1st JULY 2018

The ATO are changing the way employers report tax and super information to them. Therefore employers will need to start using what is referred to as “Single Touch Payroll”.

 

If you have 20 or more employees:

Single Touch Payroll is mandatory for employers with 20 or more employees from 1 July 2018.

You need to start using Single Touch Payroll as of 1st July 2018. You will require Single Touch Payroll-enabled software to report your:

  • payments to employees such as salaries and wages
  • pay as you go (PAYG) withholding
  • super information

You will need to send this information to the ATO at the same time as you pay your employees.

Payroll service and software providers are updating their products and services. They’ll let you know when they become Single Touch Payroll-enabled but we recommend that you get in touch with them NOW to discuss this new requirement.

 

If you have 19 or less employees:

The Single Touch Payroll system will commence from 1st July 2019 subject to legislation being passed in Parliament. The same requirements as mentioned above will apply to you once the legislation is passed.

 

Please click here for more information from the ATO website.

 

If you have any questions please do not hesitate to contact our office.