Single Touch Payroll (STP)
Single Touch Payroll (STP) software is a requirement of the Australian Tax Office (ATO) and is a requirement for any business with 20 or more employees. Accentis Enterprise will be fully compliant to handle STP obligations by the ATO when they come into effect on July 1st, 2018.
Make sure you’re ready for STP on July 1st!
Single Touch Payroll
What’s it all about?
By now, you will have seen the flurry of activity from the ATO regarding single touch payroll (STP). This is an initiative by the ATO which, in simple terms, means that any time you process employee-related pay data or superannuation, the ATO needs to be notified electronically at the time the payment is made.
From 1 July 2018, the Federal Government requires all businesses with 20 or more employees to use STP. Businesses with fewer than 20 employees are required to make the transition from 1 July 2019 but may choose to ‘opt in’ at an earlier date if they wish.
Don’t stress, we will ensure your software is STP-ready!
Our STP-compliant version of Accentis Enterprise will be available in May 2018 and we will contact all customers who are currently on the Software Upgrade Program to organise upgrades. As with all new changes, Accentis will provide instructions on how to use STP free of charge as part of your upgrade program. Customers who have elected not to be part of the Accentis upgrade program should contact us about an upgrade.
How will it all work?
Accentis Enterprise will produce the necessary data for STP, but customers using STP will be required to sign up to an ATO-compliant message transport provider that will securely transport the STP data to the ATO. We will give you more information on how to do this in the coming months with full instructions and tutorials about what to do.
Are you ready for it?
One of the biggest issues you will face is to ensure that your data is clean and accurate. Data will be sent electronically to the tax office so you won’t have the same degree of flexibility to give that piece of paper one more eyeball before sending it off! Errors and delays can result from incorrect or out of date information, so ensure all employee information such as full names, birth dates and TFNs are recorded accurately in your payroll data.
If you have any questions or concerns…
This is going to be a big change for many business operations, and we’re here to help! Don’t feel like you are getting left behind and don’t wait until it;s too late to find out about it. If you have any questions you’d like to ask or are concerned about what this change means to you, please contact our support team who will happily talk you through it.