SINGLE TOUCH PAYROLL STARTS FROM 1 JULY 2018
18th December 2017
The ATO is changing the way employers report tax and super contributions and will introduce Single Touch Payroll from 1 July 2018. It will mean that when you complete your payroll, the tax and super information for each employee will be sent directly to the ATO from your payroll solutions. This will provide the ATO with more 'real time' information and allow the ATO to chase up employers not paying superannuation and other taxes on time.
If you have 20 employees or more, you will need to start using Single Touch Payroll enabled software to report your:
- Payments to employees such as salaries and wages
- Pay as you go withholding (PAYG)
- Super information
If you don't have payroll software?
We can recommend the right program for you and ensure that your payroll software suits your business needs . An online payroll program will ensure accurate and timely payroll reporting and provide HR assistance. Please contact our in house specialist, Letitia Kowski, for further assistance.