Single Touch Payroll on the way
From 1 July 2017, ‘Single Touch Payroll’ will be available for a small number of employers to help streamline tax and superannuation affairs.
Single Touch Payroll is a government initiative which allows employers to report salary or wages, PAYG withholding and super information directly to the ATO at the same time as they pay their employees.
Software developers and digital service providers will deliver a Single Touch Payroll solution which suits an employer’s payroll needs. For most employers, Single Touch Payroll will become a part of their existing payroll management system.
Single Touch Payroll will be a requirement for employers with 20 or more employees from 1 July 2018.