It means employers will report payments such as salaries and wages, pay as you go (PAYG) withholding and super information to us directly from their payroll solution at the same time they pay their employees.
Employers may need to update their payroll solution to report through Single Touch Payroll.
For employers with 20 or more employees, Single Touch Payroll reporting starts from 1 July 2018.
The Australian Government has announced it will expand Single Touch Payroll to include employers with 19 or less employees from 1 July 2019. This will be subject to legislation being passed in parliament.
Check out this short video for an overview of Single Touch Payroll –
http://tv.ato.gov.au/ato-tv/media?v=bd1bdiub7gfnqq
If you have any concerns or issues regarding this new reporting system, please don’t hesitate in contacting the staff at Summers & Summers.
