Single Touch Payroll

Another Government mandated nightmare is heading your way if you have employees (even yourself as an employee of your own company).

From 1 July 2018 you must use Single Touch Payroll if you have 20 or more employees. That may not be a problem as with 20 employees you probably use a computerised payroll system anyway which you would expect to be compliant by that date.

The real problem is 1 July 2019 when at this stage ALL employers must use Single Touch Payroll even if it is just you as an employee of your own company.

So what is Single Touch Payroll? It is a “new, simpler way to report your employees’ payroll information”, well according to the Government anyway. It means your payroll must be computerised, or you contract it out to a commercial supplier, and all wages, tax and super is reported to the ATO in real time.