The ATO have released their Communications pack for Tax Intermediaries
The objective is to provide the current “Introductory” information to allow tax intermediaries the opportunity to commence assessing the impact of STP on themselves, their processes and procedures with clients and also the impact strategy for businesses.
There is still NOTHING for a Bookkeeper or BAS Agent to do in relation to Single Touch Payroll.
The final specifications, both technical and business process, for the first range of STP deliverables have NOT been finalised. We understand that some software are stating that they will be ready to deliver a STP report to the ATO from 1 July 2017. This maybe possible if all they are delivering is the reporting of the PayEvent based on what is entered in payroll software. It really isn’t the full benefit or system that should be in place.
Before a business can enter STP… decide who is allowed to say the data is right?
The ATO are yet to finalise who is allowed to authorise the submission of STP data that is to be sent to the ATO. The Law as it stands would require the Public Officer or the Business Owner/Taxpayer themselves to make the declaration required.
It is ICB’s position that this “authorisation” responsibility MUST be able to be delegated to an appropriate person within the business or contract bookkeeper. This discussion is underway.
Software MUST specifically obtain a declaration from someone that the PayEvent data is allowed to be submitted. It is NOT appropriate for software to simply submit the data without specific authorisation.
There is LOTS for the ATO to finalise.
Then there is LOTS for the software companies to build into their natural business processes to facilitate STP.
Then there will be a process of us informing employers and employees alike of the new features provided to the community resulting from the implementation of STP. The full implementation kit will be provided to you as required and as appropriate.
Please ignore the scaremongering articles that seem to be published by some very large organisations about the impact of STP.
Keep watch at www.icb.org.au/stp
Updated: Updated: 1 May 2017