We are receiving a lot of calls from clients worried about not being ready for Single Touch Payroll. We wish to reiterate that there is still not a lot you can do as an employer, it’s all about when your software provider will be Single Touch Payroll-enabled.
You should contact your payroll software or service provider to find out when your payroll solution will be ready for Single Touch Payroll reporting. Realistically, many payroll providers will not have a solution available until early 2018.
For now, here are 2 areas you should consider as we start to prepare for STP:
Have a conversation with your payroll software provider to confirm whether they will be offering a STP solution
- Will they be creating an STP file after each pay run?
- Will the software be able to upload the STP file direct to the ATO? Or, will you need to find a third party provider to upload the STP file?
- When do they expect to have a STP solution available for implementation.
Review your payroll processes
- Are employees being paid correctly?
- Do we have clean and accurate payroll data?
- Are we compliant with PAYG, superannuation, allowances, payroll deductions and the timeliness of payments?
SOURCE: The Association for Payroll Specialists