The Australian Tax Office’ s mandatory reporting system, Single Touch Payroll comes into effect on 1 July 2018 for organisations with 20 or more employees. Employers with 19 or fewer employees will be required to report from 1 July 2019, (subject to legislation being passed in Parliament.) The ATO is suggesting companies should count the workers on their payroll as of 1st April, 2018 to determine if your company needs to get ready for Single Touch Payroll.
Single Touch Payroll will require companies who manage payroll to report salaries and wages, allowances, deductions (ie workplace giving) PAYG withholding and superannuation information in real time directly from their payroll system to the ATO each time you pay your workforce. Pay cycles do not need to change. Workers can be paid weekly, fortnightly or monthly.
Companies with 20 or more workers on their payroll:
o Need to start reporting to the ATO through Single Touch Payroll from 1 July 2018, if your software is ready.
o Some payroll software providers have asked the ATO for more time to update their products – check if your product has a deferred start date.
o If your software product will be ready by 1 July 2018, but your company won't be ready, your company will need to apply for its own deferred start date.
Employers with 19 or less employees:
o From 1 July 2019 Single Touch Payroll will be mandatory, subject to legislation passing in Parliament.
· Companies can choose to report through Single Touch Payroll before 1 July 2019 if your software is ready.
Single Touch Payroll Program
The Single Touch Payroll Program has been developed to support Members. The program includes:
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Single Touch Payroll Support Network
The Single Touch Payroll Support Network includes a number of specialist service providers. The Network provides a package of services which can be unbundled. The providers include: