Single Touch Payroll (STP) is coming!
All employers need to start reporting each payrun (pay event) to the ATO by 30th September 2019.
Before you start there are a few things you need to know and do:
- Take this opportunity to review your payroll setup. Are you compliant with the relevant award and Fair Work?
- Opting in means you will no longer be able to issue group certificates / payment summaries to your staff. Staff will access their data in their MyGov account.
- Reporting to the ATO must happen ON or BEFORE payment date to your staff. This means wages need to be processed promptly.
- Submitted payruns will be locked – only the most recent will be able to be reverted to draft to amend errors – so it will be important to take care and make sure you have all the correct information for yourself and your staff.
- Continue to provide payslips to your employees (no change to current rules)
- Make sure employee details are current
(address, email address, super fund, TFN declaration etc)
If you prepare your own wages, please don’t opt in until we ask you to!
If we already prepare the wages on your behalf, we can continue to do so.
- We need to have a current, signed service agreement/proposal in place.
- As BAS agents, we can only submit info to the ATO that you have approved – rather than request authority for each and every payrun, we can use an annual authority* (conditions apply) to cover standard pay events – we will send you an agreement to sign.
- We will require permission to lodge unusual pay events eg termination payments and bonuses.
- Setup xero super – lets stop double handling employee info!
If you have any questions at all, please contact us for a chat.