Single Touch Payroll - Is Your Payroll Application Compliant?

 


As you would know Single Touch Payroll (STP) is on its way.  If you have more than 20 employees then you need to read this.

The most important thing for you to do right now is check that the payroll application you are using will be set up to support STP!  There are several payroll applications that will not be supporting STP (i.e.MYOB v19). If you are using such an application then you need to ensure you move to a supported application BEFORE the EOFY. 

Please contact your payroll application provider (i.e. MYOB, ATTACHE, RECKON etc) and ask them if they will be supporting STP. 

If you are using easyemployer to integrate to what will be a non-STP compliant payroll application then you will need us to re-integrate with your new payroll application - please contact us ASAP to talk this through with us (you can reply to this email if you like). 

EOFY is just around the corner so please do your checks to ensure you'll be STP compliant come 01 June 2018.



- - - MORE INFO ON SINGLE TOUCH PAYROLL - - - 

It's 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 us 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.

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