To be compliant with the new regulations, your business will need to report the wage, super, and tax details of each employee payment at the time it occurs. You can read more about the reporting specifics here.
For your business to be compliant with the changes, the Australian Taxation Office has endorsed the implementation of a payroll solution. Implementing a payroll solution from a reliable, and Single Touch Payroll ready provider will be the most hassle-free way to report correctly and avoid fines.
If you’ve already got a payroll software provider, get in touch with your provider to check that they’re on schedule for the roll-out date. If you’re unsure about your current solution’s plan to update, it may be a good idea to find another payroll software solution that has a clearer plan to tackle Single Touch Payroll. See below regarding Single Touch Payroll ready options.
The ATO has recommended implementing a payroll solution to keep on top of these changes. For businesses not operating payroll software currently, the ATO advises a discussion with your current taxation officer to choose the best payroll software going forward. For a handy guide on implementing payroll software, click here.
The ATO has compiled a list of software that is in the pipeline for Single Touch Payroll updating. Roubler has already taken the required steps to update its software to be ready for Single Touch Payroll functionality. Roubler is already in the process of integrating the released requirements into the software, to make sure that all our customers’ payroll is compliant.
Roubler has over 15 years’ experience in the Australian payroll industry. Our software is intuitively created to frequently upgrade to keep up to date with regulatory changes, and STP is no different. Roubler will take care your payroll in compliance with modern awards, and Single Touch Payroll requirements.