News

Single Touch Payroll Update

Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019.
The ATO will be working with employers to support them as they transition to STP, including allowing small employers to start reporting any time from 1 July to 30 September.

Note also that, employers with 19 or less employees do not need to report ‘closely held payees’ in 2019/20 and can report closely held payees information quarterly from 1 July 2020. For more information about the definition of “Closely Held Businesses”, please contact our office.

Employees and payment summaries

The way that the employees will get their AYG Payment Summary information depends on how their employer reports their income, tax and super information to the ATO. Specifically:

• Employers that are not yet reporting through STP will continue to provide employees with a payment summary by 14 July.
• Employers that report through STP are no longer required to give employees a payment summary; instead this information will be provided in an ‘income statement’, available via the employee’s myGov account by 31 July.

Editor: We will be able to access employee clients’ payment summaries or income statement information through our connections with the ATO (this has not changed).
Please contact our office if you have any queries about STP (whether as an employer or employee).