tablet in hand
Single Touch Payroll Deadline Is Looming
From 1st July 2018, if you have 20 employees or more (based on a headcount at 1 April 2018), say goodbye to end of year ATO reporting for payroll, just report as you pay! It will be mandatory for all employers from 1 July 2019.
Single Touch Payroll is changing the way employers report to the ATO by providing a platform to report information like salary and wages, pay-as-you-go PAYG withholding and superannuation information when you pay your employees.
You can report to the ATO through your existing accounting software as long as it is updated to offer Single Touch Payroll reporting. Therefore if you are using an older or product or software that hasn’t been updated for a while then you may need to upgrade.
When you start reporting through Single Touch Payroll you will send your employees’ payroll and super information to the ATO from your accounting software each payday. Your payroll cycle will not change.
When you report to the ATO through Single Touch Payroll, your employees will be able to view their year‑to‑date tax and super information through myGov and you may not need to provide your employees with a payment summary at the end of financial year for certain payments you report through Single Touch Payroll.
Please refer to the attached ATO fact sheet for further information.
Single Touch Payroll ATO Fact Sheet
Xero users please also see the attached link for an update:
