From 1 April 2018 if you have 20 employees or more you will need to enter the Single Touch Payroll system. This will mean that you will be reporting your employees Earnings, Taxes and Superannuation to the ATO each time a pay run is processed.
Xero are working closely with the ATO to ensure that their software will be ready by 1 July 2018 for applicable employers to report via Single Touch Payroll.
Employers with 19 or fewer employees as at 1 April 2018 will enter in to the Single Touch Payroll system from 1 July 2019 pending on the legislation being passed through parliament.
There is further information on Single Touch Payroll on the ATO’s website:
https://www.ato.gov.au/Business/Single-Touch-Payroll/.
Follow the steps to Get Ready for Single Touch Payroll on the ATO’s website: https://www.ato.gov.au/business/single-touch-payroll/get-ready-for-single-touch-payroll/
This guide outlines the items to include in the headcount and those employees to include and exclude from the headcount.
If you would like to discuss details further, please let us know.
