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Single Touch Payroll

Single Touch Payroll is the next step in streamlining your payroll reporting. It will change the way you report your employees’ payroll information to the ATO. It starts from 1 July 2018 for employers with 20 or more employees. Single Touch Payroll will be expanded to include employers with 19 or less employees from 1 July 2019. This is subject to legislation being passed in parliament.

What does it mean?

■ When you start reporting through Single Touch Payroll you will send your employees’ payroll and super information to the ATO from your payroll solution each payday.

■ When you start reporting through Single Touch Payroll you will send your employees’ payroll and super information to the ATO from your payroll solution each payday.

■ Your payroll cycle will not change. You can still pay your employees weekly, fortnightly or monthly.

■ Your payment due date for PAYG withholding and super contributions will not change. However, you can choose to pay earlier.

■ 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. The ATO will make that information available to employees through myGov.

■ 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.

How to get ready?

· Count the employees who are on your payroll on 1 April 2018.

■ If you have 20 or more, you will need to update your software when it’s ready and start Single Touch Payroll reporting from 1 July 2018.

■ The headcount is a self-assessment. You do not need to notify the ATO of your employee numbers.

· Talk to your software provider.

■ Ask them when and how your product will be updated to offer Single Touch Payroll reporting.

■ Some payroll software providers have asked us for more time to get ready. Ask them if they have been given a later start date by the ATO (a deferral). If you do not have a payroll solution, choose one that offers Single Touch Payroll reporting.

■ If you have 20 or more employees and do not use a payroll solution, you will need to choose one that offers Single Touch Payroll and start reporting from 1 July 2018.

· Please contact your RCB Team member as we can assist you with managing this change.

Source: https://www.ato.gov.au/Business/Single-Touch-Payroll/



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RCB Advisors
RCB Business Services Pty Ltd

PO Box 439, Camberwell 3124
VICTORIA, Australia

+61 3 9882 0533
vasb@eponqivfbef.pbz.nh

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