Tax of­fice urges business to stream­line pay­roll data

South Western Times - - News - Michael Philipps

The Aus­tralian Tax­a­tion Of­fice is urg­ing small business own­ers in Bun­bury to up­date to a new re­al­time pay­roll re­port­ing for­mat called Sin­gle Touch Pay­roll.

Ac­cord­ing to 2017 Aus­tralia Bu­reau of Statis­tics fig­ures, small em­ploy­ers ac­count for 87 per cent of all busi­nesses in Bun­bury.

Tax of­fice as­sis­tant com­mis­sioner John Shep­herd said while it was not manda­tory for small em­ploy­ers to re­port through STP, they could choose to get on board when their soft­ware was ready.

“If you use on­line or cloud-based pay­roll soft­ware you may be able to start re­port­ing now by up­dat­ing your soft­ware to one that is STPready,” he said.

“You should talk to your soft­ware provider about when your prod­uct will be avail­able.”

Mr Shep­herd said that as a re­sult of busi­nesses tran­si­tion­ing to STP re­port­ing, the tax of­fice now had ac­cess to em­ployee su­per­an­nu­a­tion data al­low­ing it to bet­ter pro­tect em­ployee en­ti­tle­ments.

“STP is a win-win for em­ploy­ers and em­ploy­ees be­cause it stream­lines the process for em­ploy­ers and pro­vides greater trans­parency around su­per en­ti­tle­ments for em­ploy­ees,” he said. “Tens of thou­sands of em­ploy­ers across Aus­tralia have al­ready taken the next step in pay­roll re­port­ing and adopted STP and we’re en­cour­ag­ing small em­ploy­ers to fol­low this lead when their prod­uct is avail­able.”

A num­ber of STP re­port­ing op­tions would be made avail­able to smaller em­ploy­ers.

“The ATO works closely with small busi­nesses and we are aware of the many com­pet­ing pres­sures they face,” Mr Shep­herd said.

“We will work with all stake­hold­ers on al­ter­na­tive op­tions for those busi­nesses who do not use pay­roll soft­ware.”

Mr Shep­herd said more than 45,000 em­ploy­ers across Aus­tralia had made the switch to re­port­ing through STP since the start of the fi­nan­cial year.

“These em­ploy­ers are now re­port­ing their em­ploy­ees’ salaries and wages, pay as you go with­hold­ing and su­per in­for­ma­tion to the ATO from their pay­roll solution each time they pay their em­ploy­ees,” he said.

“Em­ploy­ees can also see their year-to-date tax and su­per­an­nu­a­tion in­for­ma­tion on­line.”

For more in­for­ma­tion visit

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