The ATO is about to write to 300k small employers encouraging them to being reporting their payroll through Single Touch Payroll software.
Certified Bookkeepers are informing and assisting all businesses on implementing and running this system.
The ATO notice includes:
Why not get in early and start your Single Touch Payroll reporting now?
Single Touch Payroll is changing the way employers like you, report their tax and super information to us.
If you have payroll software, all you’ll need to do is update it once it has been Single Touch Payroll enabled.
You’ll then begin reporting the following:
› payments to employees such as salary and wages
› pay as you go (PAYG) withholding
› super information.
The way you pay your employees won’t change however you must send us the information at the same time as you pay your employees.
You can also get a third party, such as a tax professional or payroll service provider – to report to us through Single Touch Payroll on your behalf.
What you need to do
› Your software provider will let you know when they’re ready for you to start
› Talk to your tax professional about Single Touch Payroll.
Refer to www.icb.org.au/stp for all resources
ICB Members have access to business briefing sheets and resources to assist business implement and run STP.