Single Touch Payroll

Posted on 15th March 2018 by Ashley Dawson

From 1 July 2018, if you are deemed to be a ‘substantial employer’ and have 20 or more employees as at 1 April 2018, you will need to use Single Touch Payroll-enabled software to report your tax and superannuation information to the Australian Taxation Office.

What will I need to report?

You will need to report the following on or before your payroll pay day:

• Employee payments such as salaries and wages
• Pay As You Go (PAYG) Withholding
• Superannuation information

How do I determine if I am required to report?

To determine whether you need to report through Single Touch Payroll, you will need to do a headcount of the number of employees as at 1 April 2018. If you have 20 or more employees on 1 April 2018, you must report under Single Touch Payroll from 1 July 2018.

If you have 19 employees or less on 1 April 2018, you will not be required to report under Single Touch Payroll until 1 July 2019.

What changes once I report under Single Touch Payroll?

• You may not need to provide payment summaries to your employees at the end of the financial year when you report through Single Touch Payroll
• Your employees will be able to see their year-to-date tax and superannuation information through MyGov
• In the future Single Touch Payroll information will be used to prefill your activity statements

What do I need to do?

If according to our records you are deemed to be a ‘substantial employer’, one of the Team from GeersSullivan will be in contact with you in the next week to discuss how we can assist you in the transition to Single Touch Payroll.