If you pay wages you need to be ready 1 JULY 2019 - Single Touch Payroll
It is no doubt that you have heard of “Single Touch Payroll” from 1 July 2019 this is compulsory for all employers. (There is further exemption if all you pay is a related person i.e. Director)
Basically Single Touch Payroll reports the payroll information to the ATO on your regular pay cycle, weekly/fortnightly etc.
Before registering it is a good opportunity to ensure you are:
paying your employees correctly
calculating your employees’ super entitlements
correctly addressing overpayments
correctly maintaining accurate information including names, addresses, and date of birth records.
For your convenience I have included the links to the main software providers on how to register. These links will explain the steps required, and it will prompt you to contact the ATO and advise of your software provider and software ID, during this call you may need to provide business and personal information so please have items such as personal TFN/ Licence number at hand.
Once you have confirmed your details are correct and connected to the ATO you can start reporting, if you wish you can wait until 1 July.
As always if you have any questions please let me know. We are more than happy to assist you with setting up this process.