Single Touch Payroll
What is Single Touch Payroll (STP)?
STP is a reporting change for employers required by the ATO to streamline processes. It means employers will report payroll information directly to the ATO from their payroll or accounting software, at the same time they pay their employees.
Who has to report?
If on April 1, 2018, you are an employer with…
20 employees or more,
19 employees or less,
FastTrack have got you covered.
Working closely together with the ATO, we are currently making the necessary product enhancements to FastTrack360 that will ensure customers meet their STP reporting obligations.
Once the FastTrack360 Single Touch Payroll release is finalised, we will notify customers of their scheduled STP update. The release will be made available to customers at no additional cost.
Deferrals & Exemptions
Deferrals or exemptions may be granted if employers are unable to meet their STP obligations by the mandatory start date of July 1, 2018.
FastTrack are currently applying for a deferral which will cover customers should they require additional time to meet their STP obligations. Eligible customers can request the FastTrack Deferral Reference Number (DRN) for any discussions with the ATO. The ATO will recognise the Deferral Reference Number as an indication that the customer has received an ATO initiated deferral.
The FastTrack DRN will cover customers up to the agreed deferral date, which is still under negotiation with the ATO. If customers require additional time, they must apply for a deferral individually as soon as they are aware that they cannot meet their STP obligations. Customers must apply for an exemption if the additional time is more than a financial year.
When a deferral or exemption is granted, the employer must continue to meet ATO lodgement requirements (e.g. tax file declaration, Payment Summaries, PSAR files).
Stay up to date
As part of the Australian Business Software Industry Association board, we will continue to update customers on any key information as it becomes available. We will also provide customers with further education opportunities.
Please keep an eye out in your inbox for any communications from us and stay informed via the ATO STP website page.
FastTrack publishes this Single Touch Payroll website page for customers
FastTrack reminds customers moving to FastTrack360 (v11) of their Single Touch Payroll obligations
FastTrack publishes a press release announcing STP compliance available here
The ATO’s Kim McCall, Director of Business Delivery & Implementation Single Touch Payroll, joins FastTrack on the Vega roadshow event discussing Single Touch Payroll and answering questions
The ATO’s Kim McCall, Director of Business Delivery & Implementation Single Touch Payroll, answers FastTrack Customer questions about Single Touch Payroll on video
FastTrack Customers send in questions about the Single Touch Payroll to be answered by the ATO
FastTrack advises customers that the ATO’s Single Touch Payroll is coming and confirms that FastTrack360 will be compliant with this major legislative change