How you process payroll is changing from 1 July 2019 and you need to be ready!
Single Touch Payroll commences for all Employers from 1st July, 2019, this changes the way you report employee tax and super obligations to the ATO.
Regardless of how many staff you employ, the STP rules will still affect you.
These changes now mean that everyone needs to be using a software package or service that offers Single Touch Payroll (STP) functionality, to be compliant with the ATO changes.
To assist employers with this transition, software developers are offering many solutions including a low-cost STP solutions for micro employers (4 or less) – including simple payroll software, mobile phone apps and portals.
The ATO may introduce some exemptions to businesses with no or limited internet connectivity and an option for employers with up to 4 employees to allow your accountant to report quarterly on your behalf (rather than at the time of each payroll).
We believe that there may still be changes between now and 1st July, however you should start talking with your Client Manager and start making some plans on your next move. Your Client Manager will be able to provide you with some options based on your specific needs.
We are here to help and to assist our clients to make this transition as smooth as possible.