1300 781 376 info@payplushr.com.au
Single Touch Payroll – are you ready for it?

Single Touch Payroll – are you ready for it?

Single Touch Payroll Reporting effective 1 July 2018 

 

Single Touch Payroll is the Australian Government’s change to the way employers will need to report their PAYG, as well as super contribution information, to the Australian Taxation Office (ATO).

From the go live date of 1 July 2018, employers will be required to report PAYG and super contributions after a payroll has been processed (this includes ad-hoc or out of cycle pay runs also).

From 1 July 2018, employers classed as ‘substantial’ employers (over 20 employees) will be required by law to comply with the ATO’s Single Touch Payroll Reporting (STPR) requirements.  The aim is to reduce administration and to provide the ATO with real-time information from your payroll with automated reporting requirements.

The PAY plus HR system will be compliant!  This is what we have been working towards and continue to do so with our developers.

As we head towards the compliance go live date of 1 July 2018, there are a number of actions that PAY plus HR can assist your organisation with:

  • Review your payroll items to ensure that income tax withholding on wages, bonuses and severance payments is calculating correctly.
  • Review your payroll to ensure you are not paying staff under Award Rates (this will also ensure Fair Work compliance).
  • Review your payroll codes that are not classified as ordinary time earnings (OTE) for superannuation purposes, and consider whether these classifications are correct.
  • Assist you with the STP headcount reporting requirement as at 1 April 2018 to determine if your business is classed as a substantial employer.
  • Consider what internal employee communications may be necessary eg. one objective for Single Touch Payroll is that an employer will no longer be required to provide the annual Payment Summary. Employee’s will be required to access the federal government portal, myGov., so they will need to understand this.

To assist you with the above contact us via info@payplushr.com.au to book a STP consultation with a member from the PAY plus HR team.

The PAY plus HR team will also hold information sessions in the new year.  In the meantime, click here to request our information guide on Single Touch Payroll.

 

Don’t change your company, change the way you work!

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