This article relates to Single Touch Payroll and implementation to Payroll Guru.
About Single Touch Payroll.
Single Touch Payroll (STP) is a government initiative to streamline business reporting obligations.
Just like when GST was introduced, STP is mandatory for all employers. It is compliance. It commences on 1 July 2018 if you have 20 or more staff, and 1 July 2019 if 19 or less.
Employers will be able to report salary or wages, pay as you go (PAYG) withholding and super information to the Australian Taxation Office (ATO) from Payroll Guru, at the same time they pay their employees. There will also be more options for completing tax and super forms online.
Employers with 20 or more employees must start reporting through STP from 1 July 2018. If you have 20+ staff you’ll need to use Single Touch Payroll enabled software to report your:
- payments to employees such as salary and wages
- pay as you go (PAYG) withholding
- super information.
You can also get a third-party provider – like a tax professional or payroll service provider – to report to the ATO through Single Touch Payroll on your behalf.
Your payroll and/or service providers are updating their products and services. They'll let you know when they become Single Touch Payroll-enabled.
More information on what STP is and how it impacts your business is available from the ATO website at ato.gov.au/singletouchpayroll. Check this website regularly for updates and information about what you need to do to get ready for Single Touch Payroll.
About Payroll Guru Implementation.
As required by the ATO, Payroll Guru (PG) will be implementing STP compliance by 1 July 2018.
For ordinary payrun processing, this will require no change in what employers need to do in PG, as the system will automatically compile and communicate the required information to the ATO at the completion of each payrun.
We are still liaising with the ATO regarding other aspects of STP and if, and how, they will be required to be implemented in Payroll Guru. These include:
- Tax forms
- Super forms
- EOFY processes
On completion of our implementation, we will contact our clients using Payroll Guru regarding any action required to activate STP in a Payroll Guru account.
We will also publish further information on how it all works and what is required to ensure it functions correctly with Payroll Guru.
You can bookmark this article as any updates will be incorporated here and we will also alert via the To Do List item in your easyemployer account, whenever there is an update.