Single Touch Payroll

Single Touch Payroll is on its way and will take effect 1 July 2018.  If you are an employer with 20 or more employees, hopefully, you have already started preparing for the reporting change.

What is Single touch Payroll (STP)

STP is a new system of electronically reporting payroll information to the ATO.  Every time you make a payment to your employees, you will electronically report all wage, PAYG

Withholding and superannuation information electronically to the Australian Taxation Office (ATO).

To make sure you are ready come 1 July 2018 do the following

1. do an employee headcount
2. check from what date you need to start reporting, depending on the headcount
3. determine if your software provider has a deferred start date
4. ensure you have arrangements in place to start report from the start date
5. apply for any exemptions and receive confirmation by the start date.

Single Touch Payroll will be expanded to include employers with 19 or less employees from 1 July 2019. This is subject to legislation being passed in parliament.

Preparing for Single Touch Payroll may seem overwhelming.  Our Client Managers, Megan and Chris have created an Information Sheet to help you get started.  

If you have any questions please contact us.

This information is of a general nature only and has been provided without considering your objectives, financial situation or needs. Because of this you should consider whether the information is appropriate considering your objectives, financial situation and needs.