Single touch Payroll is coming – are you ready?

Single touch Payroll is coming – are you ready?

The ATO are changing the way employers report tax and super information to them. There will be a need to use Single Touch Payroll from 1 July 2018. While it is 6 months off it is important that you are prepared for the change and start preparing for it now.

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

  • pay as you go withholding
  • super information
  • payments to employees such as salaries and wages

You will need to send this information to the ATO at the same time as you pay your employees. This can be outsourced either through us or a payroll service provider. The providers are updating their products and services to enable them to become Single Touch Payroll-enabled.

We will keep you informed running up to 1 July 2018 so watch this space on what you have to do.

In the meantime below is a link to a simple video from the ATO explaining what will be needed.

Kreston Stanley Williamson Team

*Correct as of December 2017

*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to 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 contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.

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