Are you aware of the ATO’s introduction of Single Touch Payroll?
Single Touch Payroll (STP) is the biggest compliance undertaking since the introduction of GST. Introduced on 1 July 2018 for employers with more than 20 employees, STP will be compulsory for all* employers from 1 July 2019.
STP means that all employers must be using up to date software for payroll and superannuation calculations, as STP sends all the tax and super information from accounting directly to the ATO.
If you’re using spreadsheets, manual systems or outdated software for payroll and need to find out the best solution for your payroll requirements to be ATO compliant and avoid penalties, find your nearest First Class Accounts bookkeeper by calling 1800 082 066 or by clicking here.
*Please visit the ATO website to find out if you meet the criteria for an exemption.