Have more than 20 employees? Single Touch Payroll is here NOW, under 20 next year

From the 1st of July 2018, businesses with 20 employees must now have payroll systems that are single touch payroll compliant, if not you must apply for a deferral with the ATO.

What is single touch payroll?

  • Basically, you shall report your payroll and superannuation information to the ATO at each pay run.
  • Additionally, employees will eventually be able to complete Tax file declarations, Super and withholding information online.

What will it do?

  • The aim is to remove the need for PAYG Payment Summaries (Group Certificates).
  • PAYG Payment schedule and Superannuation payments will remain the same.

If you are unsure of your preparedness for this, please contact our office +613 9846 6542 or info@townshendassociates.com

 

 

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