Confused about Single Touch Payroll? These workshops can help!

CONFUSED ABOUT SINGLE TOUCH PAYROLL?

CHECK OUT THESE NATIONAL STP WORKSHOPS FROM THE ATO

 

If you are a small employer with 19 or fewer employees, you are now required to start reporting through STP (Single Touch Payroll) from 1 July 2019. 
 
STP requires employers to report their employees’ salaries and wages, pay as you go withholding and super information to the ATO from their payroll solution each time they pay their employees.
 
This is an important change that will deliver benefits for both employers and employees by streamlining payroll processes and providing greater transparency around super entitlements.
 
The ATO understands the 1 July start date may be difficult for some small employers and is committed to providing employers with enough time to properly consider their options and make the right decision about what STP solution they use.
 
As such, small employers will have a three-month transitional period and they can start reporting any time from 1 July to 30 September. If they start reporting during this period they will be reporting on time.

To support small business that may have questions on this subject, the Australian Taxation Office is conducting FREE Single Touch Payroll workshops nationally in June and July. See dates and booking details below:

VICTORIA
Monday 24th June - click HERE for more details
Monday 8th July - click HERE for more details

NEW SOUTH WALES
Monday 24th June - click HERE for more details
Monday 15th July - click HERE for more details

QUEENSLAND
Monday 1st July - click HERE for more details

SOUTH AUSTRALIA
Monday 24th June - click HERE for more details
Monday 29th July - click HERE for more details

WESTERN AUSTRALIA
Monday 15th July - click HERE for more details
 
When it comes to Single Touch Payroll, if you are a small employer, you should talk to your accountant or tax adviser soon and ensure you are aware of all your options. These workshops are designed to answer any questions you may have. There are new payroll options already available, including a number of no-cost and low-cost options for less than $10 per month, which will also become available. These options may include simple payroll solutions, portals and online apps and are suitable for micro employers (those with 1-4 employees).
 
Employers with a payroll solution already in place may be able to start reporting now by updating their software to one that is STP-ready.
 
Since STP reporting became mandatory for employers with 20 or more employees on 1 July 2018, more than 60,000 Australian employers, representing around 4.3 million Australian employees, have already been successfully reporting through STP.
 
Similar to the implementation process for larger employers, the first year of reporting will be a transition year.
 
The next steps to get ready for STP:

  • Visit www.ato.gov.au/stp and find out what you need to do to get ready.
  • If you have payroll software, speak to your provider to find out if your product is ready or when it will be.
  • If you don’t have software, choose a product that offers STP. You can ask your registered tax or BAS agent for advice on choosing a product that suits your business needs.
  • Update your payroll software when it’s ready.
  • Start reporting to the ATO through STP.

 
You can also visit www.ato.gov.au/stp for information, resources, news and detailed guidelines.

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