In this edition:
Single Touch Payroll reporting for employers begins on 1 July 2018. This article will help your company is prepare for Single Touch Payroll reporting. The new system will affect employers with 20 or more employees.
Salaries and wages, pay as you go (PAYG) withholding and superannuation information will need to be reported from your payroll solution at the time payments are made to employees.
The Single Touch Payroll (STP) system is likely to be expanded to employers with 19 or fewer employees after 1 July 2019, subject to a further change in legislation.
Which employees should be included in a Single Touch Payroll head count?
Don't include:
Company directors, office holders and religious practitioners are not considered employees by the common law definition. However, their payment information needs to be reported because the payments are subject to withholding and are currently reported in the Individual non-business payment summary.
If you have not already updated your payroll system to a version that is STR compatible, we encourage you to implement this requirement before 1 July. Check out the ATOs About Single Touch Payroll page for details to assist with the process.
Contact us for assistance to ensure your business is ready for Single Touch Payroll.
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