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UPDATE: Single Touch Payroll - headcount due 1/4/2018 for substantial employers
Substantial employers are those with 20+ employees and they must complete & document a headcount taken as at that date.
Here are some quick reference material items and a link to the ATO STP website:
Read more about Paul's Tour de Cure ride - he's riding from Mackay to Cape Tribulation starting on 27/4/2018
February Newsletter (Business) - published 6/2/2018
November Newsletter (Business) - published 3/11/2017
Did you know that Single Touch Payroll starts from 1 July 2018?
Single Touch Payroll (STP) is a reporting change for employers. It means employers will need to report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to the ATO directly from your payroll solution at the same time you pay your employees.
There will be more information available over coming months - so be mindful of STP and look out for updates from your software provider. Some preparation will also be required in terms of informing your employees and possibly altering your processes.
- 1 April 2018 - employers need to complete a headcount of employees
- 1 July 2018 - employers with 20+ employees need to use STP-enabled software to report to the ATO
As more information becomes available we will pass it on, but in the meantime please refer to our STP Information sheet which contains some handy links to the ATO and software providers.
NEWSFLASH - SMSF Trustees - more reporting required by the ATO
The ATO has proposed to introduce event based reporting which will require reporting within 10 days of the start of pensions, commutations of pensions and other activities within the fund. This means that there will be a need to ensure that pensions are started when they should be, and minimum pensions payments are made each year, within the required time frames.
The ATO has suggested either a 15 May 2018 or 1 July 2018 start date for this new reporting obligation. posted 8/6/2017