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FEBRUARY 2018   |   NEWSLETTER
 

SINGLE TOUCH PAYROLL REPORTING - What do I need to know?

 

Dear <<First Name>>,

The move to single touch payroll reporting (STPR) sets a new standard for payroll reporting in Australia. The ATO will now have access to real time payroll data.
 
Please find below a link to our 5 minute video summary of what you need to know:

 

When does it start?


Businesses can opt to commence STPR from 1 July 2017, however mandatory reporting will start from:
  1 July 2018 for businesses that employ 20 or more people*
  1 July 2019 for businesses that employ less than 20 people.
  *The employee head count is at April 1 2018
  - STPR will be required even where your head count subsequently falls below 20 employees (grouping occurs for employers of businesses held within wholly owned groups)
 

What will change?

  • ordinary time earnings, salary and wages, allowances, deductions, superannuation information and Pay-As-You-Go (PAYG) withholding information will be reported and available to the Commissioner in real time when payroll is processed by the employer
  • employers will need to upgrade their software (Xero, MYOB, etc) to be STPR compliant to enable them to comply with their PAYG withholding obligations
  • the STPR reports for PAYG Withholding will become the approved form for reporting PAYG Withholding (currently this information is reported via the instalment activity statement or business activity statement)
  • under STPR, employers that have reported their PAYG Withholding obligations will have their PAYG Withholding information refilled on their BAS by the ATO
  • large withholders will no longer report PAYG Withholding on their activity statements
  • employers will no longer be required to submit an annual PAYG report to the ATO
  • employers may no longer need to provide payment summaries to employees, as the employees will have access to their payroll information via their myGov account.

What remains the same?

  • if the employer does not elect to pay their PAYG Withholding liability at the same time as they report it under STPR, there is no change to the due date of the PAYG Withholding liability. Large employers will still need to remit weekly, medium sized employers will remit monthly, and small employers will remit quarterly.
  • the STPR does not change the payment due date for superannuation guarantee purposes, being generally on or before the 28th day following each quarter
  • employers will still continue to be able to adjust or correct data in their activity statement.
 
For more information regarding STPR, please refer to the ATO website here

Kind Regards,
JudsonKoman

JudsonKoman   |   ABN 31 637 735 849
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