Single Touch Payroll – Reporting Changes

Single Touch Payroll – Reporting Changes

From 1 July 2018, employers with 20 or more employees will be subject to reporting changes…

 

What?
  • 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.

 

Who?
  • 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.

 

How?
  • 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

Email: kmtp@kmtpartners.com.au

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