There are new mandatory salary and super reporting requirements commencing 1 July 2018.
Single Touch Payroll (STP) is a government initiative that will change the way you report on your payroll to the ATO from 1 July 2018.
Under STP, businesses are required to report on salary or wages, pay as you go (PAYG) withholding and superannuation directly to the Australian Taxation Office (ATO), electronically, and at the same time as their employees are paid.
This new streamlined reporting to the ATO will make it easier for employers to meet payroll processing obligations, and employees to view their information and lodge annual tax returns.
We are BeWise are here to help you. Please contact us for help in reviewing your software and payroll processes from the BeWise Accountants Team anytime.
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