Single Touch Payroll

From the 1st of July 2019 all employers need to process and report wages via the Single Touch Payroll also known as STP.

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with Single Touch Payroll

  • What does this mean for you, the Employer?

    This means, every time you do a pay run, you have to send the ATO (Australian Taxation Office) your Single Touch Payroll (STP) information using a compliant payroll software.

  • What does the employer need to do?
    1. Record employees’ wages using a compliant payroll software
    2. Generate and send payslips to employees
    3. Pay employee wages via internet bank transfer
    4. File the pay-run information using STP to the ATO
    5. Contact your BAS or Tax Agent at the end of each financial year to ensure payroll reconciliations are completed prior to the “Finalisation Declaration”
    6. Employer can then approve the “Finalisation Declaration”. The Employer will no longer need to provide PAYG Payment Summaries to employees at the end of the financial year nor lodge a PSAR with the ATO
  • What payroll information is sent to the ATO?
    • Year-to-date salary or wages information
    • Year-to-date PAYG Tax withheld
    • Year-to-date Superannuation accrued and paid
  • What does the ATO do with the pay-run information?
    • Match pay-run information to the employer / employee account
    • Send pay-run information to the employees’ myGov account where the employee can log in to view their wages, PAYG tax & superannuation information
    • Pre-fill wages, PAYG tax and super information into the employees’ income tax returns, which can then be lodged through myTax, or via a Tax Agent

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