Single Touch Payroll comes in on 1 July!

Are you prepared for the implementation of single touch payroll on 1st July, as highlighted in previous editions of S & W Insight? Ensure your readiness by consulting reliable accountants in Sydney.

Employers with over 20 employees must provide real-time reports to the ATO of all employee-related payments (i.e. salary and wages, SGC contributions, ordinary time earnings of employees and PAYG withholding amounts). 

The reports are to be provided to the ATO in the approved format. This should be done through your accounting software, as most accounting software has been upgraded to satisfy the new ATO requirements. This new requirement makes no change to the due dates for payments. 

If you are unsure what is required, don’t hesitate to contact your client manager.

Kreston Stanley Williamson Team

*Correct as of June 2018

Disclaimer – Kreston Stanley Williamson has produced this article to serve its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas in this article, you must seek advice about your circumstances. Liability is limited by a scheme approved under professional standards legislation.

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