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A Comprehensive Transition Guide to Single Touch Payroll

What is Single Touch Payroll?

Single Touch Payroll is the new way in which all Australian businesses must report their super contributions and PAYG to the Australian Taxation Office (ATO). Single Touch Payroll requires every business to submit payroll information to the ATO each time they process their payroll. This includes, current total year-to-date wages and tax and current total super contributions. It is critical to understand whether your payroll software is Single Touch compliant before June 30 2018.

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Key Dates for Single Touch Payroll

This reporting is required by the Australian Taxation Office for all businesses. However, the required date of commencement varies based on your number of staff.

If your business has over 20 staff, you will require Single Touch Payroll to be in operation from July 1st, 2018.

If your business has less than 20 staff, you will need to have Single Touch Payroll in place from July 1st 2019.

What Does Single Touch Payroll Mean for Your Business?

Keeping your business compliant with these new reporting standards is crucial to avoiding penalties. The ATO notes that the easiest way to ensure your business is adhering to Single Touch Payroll requirements is to implement a payroll solution as soon as possible. If you aren’t currently outsourcing your payroll to a reliable payroll provider, now is a good time to start doing so. If you are outsourcing your payroll, chat to your provider today to ensure that are updating their practives to reflect these changes. If your provider isn’t updating their practices and Single Touch Payroll requirements aren’t being met, your business will attract penalties.

Looking for a full Single Touch Payroll implementation guide and check list? Click here.

Regulatory Compliance & Penalties

Single Touch Payroll reporting standards have been introduced as a means to encourage transparency and compliance among Australian businesses. The Australian Taxation Office now has access to all payroll details, and as a result can easily identify non-compliant businesses.

Failure to meet the Single Touch Payroll reporting requirements will attract penalties. Furthermore, if the reporting displays non-compliance with payment and super contribution regulations, this will attract supplementary penalties.

Roubler’s payroll service is completely compliant with the new Single Touch Payroll reporting regulations. Have peace of mind that your payroll will be in compliance with national regulations.

Get Single Touch Payroll Compliant Today

Roubler’s software supports Single Touch Payroll functionality. For each pay slip generated, Roubler will send the PAYG and super contribution details to the Australian Taxation Office on your behalf, as required by the new national payroll reporting standard. Your employees will have easier access to all of their payment details, and you can rest assured that your business’ payroll records have been handled accordingly.

onshore Payroll team

Onshore Payroll Team

Our Australian payroll team has over 15 years’ experience processing payroll in Australia’s complex regulatory climate. As a result, they are well equipped to manage the changes and challenges presented by Single Touch Payroll reporting requirements. Our team is always available to answer any queries you have about Single Touch Payroll reporting requirements.

Simplified Reporting

Simplified Reporting

Banish end-of-Financial Year stress in your business with our simplified reporting. Roubler’s Single Touch Payroll software will keep neat records of all details submitted to the ATO. Your business activity statement will have sections W1 and W2 pre-filled to save time. You’ll be able to edit these values if required.

Need More Information?

You can download our Single Touch Payroll EBook here, or read our comprehensive blog post here.

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