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March 2018 Single Touch Payroll

February 18, 20230

Single Touch Payroll

Single touch payroll commences from the 1st July 2018 and whilst it only now applies to businesses with 20 or more employees, those with 19 or less employees will be required to adopt Single Touch Reporting by the 1st July 2019.

For those clients with 20 or more employees, we urge you to start looking into what’s required well before the 1st July 2018.

For those clients with 19 or less employees, you have still have over a year before this impacts you.

For your reference we have below an extract from an ATO email by our office.

We are changing the way employers report tax and super information to us. You may need to use Single Touch Payroll from 1 July 2018.

You’ll now be able to report this information to us directly from your payroll solution.

If you have 20 or more employees, you need to start using Single Touch Payroll-enabled software to report your:

  • payments to employees such as salaries and wages
  • pay as you go (PAYG) withholding
  • super information.

You need to send us this information at the same time as you pay your employees.

Payroll and service providers are updating their products and services. They’ll let you know when they become Single Touch Payroll-enabled.

What you need to do
Do a headcount of the number of employees you have on 1 April 2018 to work out if you need to report to us using Single Touch Payroll from 1 July 2018.

You can find information about which employees you need to include on the ATO website.

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Copyright by Vantage Tax & Business Services. All rights reserved.

Copyright by Vantage Tax & Business Services. All rights reserved.