Single Touch Payroll – Reporting Changes
Posted on 3 April, 2018
From 1 July 2018, employers with 20 or more employees will be subject to reporting changes…
- If this applies, you will need to report salary, wages, PAYG withholding and superannuation payments to the ATO, every time you make such a payment.
- The payment information will be need to be sent from your payroll solution each payday.
- Your employees will have the ability to view year-to-date tax and superannuation details through their myGov portal.
- This change applies to you as an employer, if you have 20 or more employees on your pay roll as at the 1st of April 2018.
- Subject to passing legislation, the changes may also apply to employers with 19 or less employees as of 1 July 2019.
- Communicate with your software provider as to when and how you can update your software to enable the Single Touch Payroll tool.
- If you do not currently use a payroll solution, but meet the criteria of 20 or more employees, you will need to select a solution which does, prior to 1 July 2018.
See the ATO Website for more details.
For more information, contact the team at KMT Partners.
Phone: (08) 8431 0022