Time for em­ploy­ers to get ready for Sin­gle Touch Payroll

Wangaratta Chronicle - North East Regional Extra - - News - Visit ato.gov.au/stp for in­for­ma­tion, re­sources, news and de­tailed guide­lines.

THE Aus­tralian Tax Of­fice (ATO) is urg­ing em­ploy­ers with 20 or more em­ploy­ees to act now and pre­pare for Sin­gle Touch Payroll (STP) – the next step in stream­lin­ing payroll re­port­ing.

From July 1, 2018, em­ploy­ers will need to re­port their em­ploy­ees’ tax and su­per in­for­ma­tion to the ATO through payroll soft­ware that is STP ready.

As­sis­tant com­mis­sioner, John Shep­herd, said STP will pro­vide greater trans­parency and con­nect busi­nesses to the ATO through their ex­ist­ing soft­ware.

“Sin­gle Touch Payroll is a gamechanger for both em­ploy­ers and the ATO. This will al­low em­ploy­ers to be able to meet their re­port­ing obli­ga­tions to us us­ing their own payroll or ac­count­ing soft­ware.

“Many em­ploy­ers will be able to up­date their ex­ist­ing payroll soft­ware to a ver­sion that is Sin­gle Touch Payroll ready.

“Em­ploy­ers with 20 or more em­ploy­ees who do not use payroll soft­ware will need to choose a prod­uct that of­fers STP by July 1, 2018.

“Em­ploy­ers need to start pre­par­ing now in or­der to be ready for this im­por­tant re­port­ing change,” Mr Shep­herd said.

The next steps to get ready for STP:

Visit ato.gov.au/stp and down­load our ‘Get ready check­list’.

Do a head­count of your em­ploy­ees on April 1, 2018 to find out if you have 20 or more.

If you have soft­ware: talk to your provider to find out how and when your prod­uct will be ready.

If you don't have soft­ware: choose a prod­uct that of­fers STP.

You can ask your tax or BAS agent for ad­vice on choosing a prod­uct that suits your busi­ness needs. Up­date your payroll soft­ware when it’s ready.

Start re­port­ing to the ATO through STP.

“Some payroll soft­ware providers have asked us for more time to get ready – em­ploy­ers should ask if their provider has been given a de­fer­ral which will cover them, and also check when their prod­uct will be up­dated to of­fer Sin­gle Touch Payroll re­port­ing.

“We’ve been work­ing closely with payroll soft­ware providers, tax and BAS agents and payroll spe­cial­ists from con­cept through to de­sign and now de­ploy­ment of so­lu­tions to en­sure that Sin­gle Touch Payroll can be suc­cess­fully im­ple­mented.

“The ATO is here to make the tran­si­tion as smooth as pos­si­ble for em­ploy­ers to en­sure they meet their obli­ga­tions. We have de­vel­oped a num­ber of re­sources in­clud­ing fact­sheets, check­lists, in­for­ma­tion packs and ad­vice on how to man­age head­count. These are all avail­able to down­load on the ATO web­site.” Mr Shep­herd said.

Em­ploy­ers with 19 or less em­ploy­ees have an­other year to pre­pare, how­ever they can choose to start re­port­ing through STP prior to July 1, 2019 if their soft­ware is up­dated.

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