20 or more employees? Single-touch payroll applies from 1 July
Employers | 4/04/2018 |
2 min read
If you have 20 or more employees, the way you report payroll information to the Australian Tax Office (ATO) changes from 1 July 2018.
Under the Single Touch Payroll (STP) requirements you will report salaries, wages, PAYG withholding and superannuation information every time you pay your employees (see ATO website information).
Initially, your super fund will not be providing information, but the ATO says that, at some time in the future, all super contributions received by funds will be matched to STP information you provide to the ATO. This will help ensure all superannuation commitments have been met on both sides.
If you have not done so already, and you are using third-party payroll systems, you should check that your provider has updated and is ready to meet the STP reporting requirements.
If you employ less than 20 people, the STP changes will take effect from 1 July 2019.