The Australian Taxation Office (ATO) has introduced
changes to the way employers report tax and super information. The reporting
change is called Single Touch Payroll (STP). Employers have different start dates
depending on a few things, such as the number of employees they have and the
systems they use to run their payroll.
STP is a new way of reporting tax and superannuation
information to the ATO. If you are an employer, you need to report your
employees’ payroll information, such as salaries and wages, pay as you go
(PAYG) withholding and super information to the ATO each time you pay them.
The requirements are different depending on how many people
you employ:
- Micro-employers with less than four employees:
have additional options including using low cost or no cost products, or
quarterly reporting through their registered tax or BAS agent.
- Small employers with 19 or less employees
– need to report through STP any time before 30 September 2019.
- Large employers with 20 or more employees
– should already be reporting through STP.
The ATO has a range of resources available on its website,
for both employers and employees, and we encourage you so have a look at this
information to make sure you are complying with the new requirements.
Visit www.ato.gov.au/Business/Single-Touch-Payroll/.
If you need help transitioning to STP reporting we suggest
you contact your local accountant or bookkeeper to assist with this process.
Information:
Susan Vallis, Business & Finance Manager
P: 02 6622 4933
E: [email protected]