Single Touch Payroll (STP) is an initiative of the Australian Government that will affect all employers with 20 more employees from the 1st July 2018, and all other employers from 1st July 2019. It’s a new way of reporting payment information of employees, with the largest change being that employers will electronically report these payments to the ATO at the time they are made, rather than as an annual report at the end of the year. You will require a compatible payroll system in order to meet these new requirements.
Accrivia will provide a Single Touch Payroll solution.
We are working closely with the ATO and industry entities and are expecting to release the STP compliant version through May 2018.
Your version of Accrivia will need to be updated prior to commencing STP reporting (generally 1st July 2018). We will get in contact and also update this page when we’re ready to schedule these updates.
How will it work, and what changes will I need to make?
- There are minimal process changes to the way you will complete your payroll.
- Once you have finalised your pay run (but before you actually process payments to your employees) you will use a new screen in Accrivia to upload the payment information to the ATO.
- If you make a mistake or amendment with a pay run, you will be able to report these changes to the ATO in the same way as regular STP reporting.
What can I do now to get ready?
- Make sure that the Accrivia Support Team have your correct contact details for payroll communications.
- Keep up to date with any ATO communications.
- Read more about what you can do to get ready at the ATO STP page, and read through their Get Ready Checklist.
As always, if you have any questions, please get in contact with the Accrivia Support Team.