The ATO is urging employers with 20 or more employees to start preparing now for the Single Touch Payroll (STP) reporting regimen, which will be mandatory from 1 July 2018.
For employers, this change means they will report payments such as salaries, wages, allowances, PAYG withholding and superannuation contributions information to the ATO directly from their payroll solution at the same time they pay their employees. STP reporting starts on 1 July 2018 for employers with 20 or more employees, and is slated to apply from 1 July 2019 for those with 19 or fewer employees.
TIP: Businesses should do a headcount of employees as at 1 April 2018 to check if they have 20 or more. There are rules about which employees to include in the headcount.
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