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  • Single Touch Payroll off to a positive start

    Single Touch Payroll (STP) is off to a positive start, with thousands of employers transitioning to real-time reporting in the first month.

    Employers with 20 or more employees need to report STP information each time they pay their employees – which can be weekly, fortnightly or monthly. Employers will be reporting their employees' super information as well as their salary and wages in each STP report.

    Assistant Commissioner John Shepherd said the move to near real-time reporting will improve the fairness of the tax and super system for both employers and employees.

    'The ATO will receive and match employer reported data each pay cycle. This will give employers a better picture of their tax position, which can help them manage their business and tax obligations.'

    'Employees will be able to check their year-to-date tax and super information by logging into myGov and accessing ATO online services.'

    The rollout of STP is being staggered and the ATO expects to have around 60,000 of the 70,000 employers on-board and reporting each payday by December this year.

    The ATO is also looking at more ways to use real-time data to meet reporting obligations to other agencies, such as confirming income and Centrelink benefit recipients, and this streamlined process could help save employers a lot of time in fulfilling their requirements.

    If you have 20 or more employees and have not transitioned to STO reporting, you need to take action now. Talk to your software provider if you're not sure what to do, apply for a later start date if you need it, or update your software and start reporting.

    'We have developed a number of resources to help employers including factsheets, checklists, information packs and technical guidance. These are all available to download on the ATO website.' Mr Shepherd said.

    Next steps:

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      Last modified: 07 Sep 2018QC 56771