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Businesses need to be aware of big changes afoot with the implementation of the Government’s proposed Single Touch Payroll. Under Single Touch Payroll, employers will be required to electronically report payroll and superannuation information to the ATO when employees are paid, using Standard Business Reporting-enabled software.
According to the Government, Single Touch Payroll would cut red tape for employers and simplify tax and superannuation reporting.
TIP: Single Touch Payroll is expected to be launched in July 2016. In a brief public consultation period, the ATO highlighted potential impacts that the implementation of Single Touch Payroll could have on employers. Businesses or their payroll providers may be required to either purchase or upgrade existing software, potentially at an additional cost. Another concern is the immediate impact on cash flow, particularly during transition.
Our office is located in the quiet yet central Hamilton South, Newcastle, just off Stewart Avenue, which directly continues into the Pacific Highway.
- Phone/
- (02) 4940 0255
- Email/
- ua.moc.ttiwehmc@noitpecer
Office
Level 1, 61 Stewart Ave.Hamilton South, Newcastle
NSW 2303
Australia
Postal address
PO Box 100The Junction
NSW 2291
Australia
