Right now, you don’t need to do anything. The ATO is still testing Single Touch Payroll functionality with a limited number of businesses.
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.
Your payroll cycle won’t change. It simply means that when you complete a pay run, the earnings, tax and super information for each employee will be sent to the ATO.
What is MYOB doing?
MYOB is working closely with the ATO to ensure you remain compliant in advance of the 1 July 2018 deadline.
For the latest info on Single Touch Payroll, check our website (myob.com/STP).