How many employees do you have on your payroll?


How many employees do you have on your payroll? - 2020 - Wattsnext Group

It is now more important than ever to know how many employees you have on your payroll.

The ATO has introduced a mandatory reporting system (Single Touch Payroll), which came into effect on 1 April 2018. The reporting system requires organisations with 20 or more employees to report payments, PAYG withholding and super information in real time directly from their payroll system to the ATO ommencing 1 July 2018 (Employers with 19 or fewer employees will be required to report from 1 July 2019, subject to legislation being passed in parliament).

In recent times payroll and HR professionals have saved up employee data relating to super information, allowances and deductions for the end of the year, but as of 1 July 2018 (subject to your employee headcount) this needs to be done weekly, fortnightly or monthly.

These changes are designed to create a more efficient system and there are a number of resources available on the ATO website to help you prepare for these changes – https://softwaredevelopers.ato.gov.au/STP

If you need any assistance or have any questions, reach out on 1300 092 887, we would love to assist!

 


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    The wattsnext Group blog is a compilation of ideas and expertise from the entire team, past and present with a few added gems from guest authors from time to time. With this collaborative approach, we can provide you with a broader perspective and high-level expertise across the small business landscape.


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