Single Touch Payroll
The way you report super is changing
Single Touch Payroll is coming
What is Single Touch Payroll?
Single Touch Payroll (STP) is a Government initiative that changes the way employers will need to report certain employee payments to the Australian Taxation Office (ATO).
STP aims to reduce the amount of reports required from employers by allowing them to provide information such as their employees’ salaries, superannuation and tax at the same time as they process their payroll. This means there will be no need to provide year-end payment summaries or reconciliations.
What do you need to do?
In order to meet STP standards, employers must upgrade their payroll software to an STP-compliant system. (Your existing provider may already have this in place).
A list of payroll providers ready for STP can be found on the Australian Business Software Industry Association’s website. If you are unsure whether your current payroll software is compliant, you should check with your supplier.
When do I need to move to STP?
The date you need to change to STP depends on the size of your organisation. You need to complete a headcount of your employees on 1 April 2018.
If you have 20 or more employees, you will need to have STP in place by 1 July 2018.
If you have 19 or fewer employees, you may be required to switch to STP by 1 July 2019. This decision is to be confirmed by the ATO.
What’s CareSuper doing to help?
At CareSuper, we believe understanding how the changes will affect your organisation is key to a smooth transition. We’ll keep this page updated as more information becomes available.
We’ll also be communicating with CareSuper employers and providing them with education and support, including in payroll events, to help make the transition seamless.
For more information on Single Touch Payroll, we recommend you visit the ATO’s website.
If you have any other questions about your super obligations, contact your Client Partnership team representative.