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AccountRight Plus, Premier and Enterprise, Australia only
What is Single Touch Payroll?
Single Touch Payroll is an ATO requirement which will change the way you report payroll payments, including:
- salaries and wages
- pay as you go (PAYG) withholding
- superannuation information
It’ll simplify your ATO reporting because you’ll be able to do it directly from your payroll software at the same time as you pay your employees.
This means you’ll be able to meet your ATO reporting obligations at the same time you pay your employees, instead of running a separate process.
It will also make EOFY a breeze because you’ve already reported your payroll activity throughout the payroll year.
Learn more about Single Touch Payroll on the ATO website.
What do I need to do?
On 1 April 2018 count your employees. This is based on a headcount – not the full time equivalent (FTE).
If you have 19 or fewer employees, you can choose to report through Single Touch Payroll.
If you have 20 or more employees, you’ll need to implement Single Touch Payroll by 1 July 2018.
We recommend upgrading to the new AccountRight for Single Touch Payroll enabled software (an AccountRight subscription entitles you to an upgrade).
Can't upgrade yet?
The following features aren't available yet in the new AccountRight, so if you use any of these in AccountRight v19 you might not be able to upgrade just yet:
- M-Powered Payments
- negative inventory
- multi-location stock tracking.
If you can't upgrade, we've worked with the ATO and you'll be granted a deferral from STP reporting until 31/5/2019. More details about this deferral will be provided soon.
For the latest info on Single Touch Payroll, check our website ( myob.com/STP ).