SUBJECT – SINGLE TOUCH PAYROLL
Hi I'm Susan Hinwood, Payroll expert at MWL Financial Group
Single Touch Payroll is a change to reporting requirements for employers.
From 1 July 2018, employers with more than 20 employees will be required to report payments such as salary and wages, PAYGW and superannuation information from their payroll software to the ATO each pay cycle. Employers with less than 20 employees do not need to adopt the changes until 1 July 2019 but can choose to begin STP reporting sooner.
Employers need to count the employees on their payroll as at 1 April 2018 to ascertain if their headcount is 20 or more. The headcount should include all full time and part time employees. Casual and seasonal workers should be included if they worked for you during the month of March and are still on your payroll as at 1 April.
So if after your head count, you find you have more than 20 employees, what next?
* Check that your current payroll program will be STP ready.
* Confirm your employee details in your payroll system, ensure that you have the correct TFN, DOB and address.
* Make sure that employee salary, PAYGW and superannuation liabilities are being calculated correctly each pay cycle.
* If possible, do a test STP upload to the ATO on your last pay cycle in June to make sure everything is running smoothly before mandatory obligations begin in July.
For more information contact us at firstname.lastname@example.org and either me, Susan Hinwod or one of our experts will be more than happy to help.