The ATO is informing the top 150,000 employers about their Single Touch Payroll Obligations.
1. Know what their software is doing
2. Obtain details if the Software has an extension of start date from the ATO
3. Clean up the employee data
Reported in todays "Accountants Daily"
The ATO is satisfied with the progress of software developers in getting STP ready. However, at this stage, only five of an approximate 140 which have registered interest with the ATO about providing STP products are ready to go.
As it stands, 22 software providers supply payroll products to around 80 per cent of Australian employers with 20 or more employees.
“The vast majority of these 22 payroll software providers are currently indicating they will have a STP product ready by 1 July 2018, although there is flexibility available for those that may need more time,” an ATO spokesperson told Accountants Daily.
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More details at www.icb.org.au/stp