Newsletter; Single Touch Payroll (STP)
From 1 July 2018, businesses with 20 or more employees (on 1 April 2018) need to report payments such as salaries and wages, PAYG withholding and superannuation information each time they pay their employees (there are no changes to the timing of payments of PAYG withholding and superannuation).
Most software packages are being updated by the software providers and will be ready by the start date. If you’re using a software package that won’t be ready, the software provider should have been given a deferral by the ATO which covers any business using that software (the software provider will notify you of the deferral date).
From 1 July 2019, businesses with 19 or fewer employees will need to report payments too (legislation has not yet been passed by Parliament).
The information collected will also be reported to employees through their myGov account. From 2019, superannuation funds are also required to report employer superannuation payments to the ATO so both the ATO and employees will be able to track unpaid employee superannuation.
