Single Touch Payroll is almost here
23rd May 2018 | News
Australia’s new regulations for payroll will soon be applying to all businesses with at least 20 employees. Employers are being urged to quickly evaluate their staffing position and comply with the new requirements.
The headcount of employees will need to go back to 1 April 2018. If businesses had 20 or more employees on this date, Single Touch Payroll (STP) will be mandatory for their organisation come July 1, 2018, even if their headcount falls below 20 now.
The headcount includes full-time, part-time and ‘casual’ employees that were on payroll as of April 1 and worked any time during the March prior. This includes international workers, employees who are on leave or absent and seasonal employees.
It will be voluntary for employers with 19 or less employees to adopt an STP solution at this time, but STP will be expanded to include employers with 19 or less employees from 1 July 2019 subject to legislation being passed in parliament.
Payroll software providers are currently working with the Australian Taxation Office (ATO) to be ready for the changes.