Single Touch Payroll is coming
Published: January 31, 2018
FastTrack ensures customers are best prepared for the Australian Taxation Office Single Touch Payroll (STP) legislation.
FastTrack Recruitment and Staffing Software is preparing its customers for Single Touch Payroll (STP), one of the most important legislative changes to impact Australian organisations in decades.
STP is a government initiative to streamline business reporting obligations. It requires employers to report payroll information directly to the ATO from their payroll or accounting software, at the same time they pay their employees. This will be mandatory from 1 July 2018 for employers who have 20 or more employees on 1 April 2018. For those with 19 employees or less, STP will be mandatory from 1 July 2019, subject to legislation being passed in parliament.
“We want to ensure customers are fully compliant and entirely prepared for this critical change”, said David Page, FastTrack CEO. “As the only dedicated recruitment payroll provider represented on the Australian Business Software Industry Association (ABSIA) board over the last 12 months, we have been working closely with the ATO to provide customers access to all of the key information they need and will continue to do so as the mandatory date approaches.”
“While many vendors are claiming to provide an STP solution, we recommend all staffing organisations check with the ABSIA website to ensure their payroll provider is currently working on a Single Touch Payroll solution” says David.
As a whitelisted ATO provider FastTrack were already underway in 2017 informing customers of the upcoming legislative change. Customers were given the opportunity to submit their questions regarding STP to ATO Director of STP Business Delivery and Implementation, Kim McCall. They also had the opportunity to see Kim McCall at the FastTrack National Roadshow held in May last year.
- Access a webinar featuring the ATO Director of STP Business Delivery & Implementation, Kim McCall answering key questions from recruitment agencies. Contact us for access.
- Access the ABSIA website listing of payroll vendors currently working on STP here.