Single Touch Payroll is live in Australia. Are you ready?

Single Touch Payroll (or STP) is a reporting change for employers required by the Australian Taxation Office (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 to the ATO with STP?

20 Employees or more

If on April 1, 2o18 you are an employer with 20 or more employees, including contractors, you need to start reporting Single Touch Payroll or STP to the ATO from July 1, 2018

19 Employees or less

If on April 1, 2o18 you are an employer with 19 or less employees, including contractors, you need to start reporting Single Touch Payroll or STP to the ATO from July 1, 2019

FastTrack has you covered

Working closely together with the ATO, we have made the necessary product enhancements to FastTrack360 that will ensure customers meet their Single Touch Payroll (STP) obligations.

We will notify customers of their scheduled STP update. The release will be made available to customers at no additional cost.

In the meantime, make sure your business is STP ready with the checklist below.

Download the FastTrack STP Readiness Checklist

Deferrals and 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 have obtained 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. If customers require additional time, they must apply for an Employer 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. Below are some useful links published by the ATO:

Employer Reporting Guidelines

Setting up your myGov account

Accessing your income statement or payment summary online

FastTrack Updates

 

July 2018

FastTrack went live with STP!

May 2018

FastTrack successfully completed conformance testing with the ATO. This means we have successfully submitted an STP paybatch to the ATO.

April 2018

FastTrack completed STP product development in FastTrack360.

March 2018

FastTrack publishes this Single Touch Payroll website page for customers

FastTrack updates customers on Single Touch Payroll progress and the deferral process.

February 2018

FastTrack reminds customers moving to FastTrack360 (v11) of their Single Touch Payroll obligations

January 2018

FastTrack publishes a press release announcing STP compliance available here

May 2017

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

April 2017

The ATO’s Kim McCall, Director of Business Delivery & Implementation Single Touch Payroll, answers FastTrack Customer questions about Single Touch Payroll on video

March 2017

FastTrack Customers send in questions about the Single Touch Payroll to be answered by the ATO

April 2016

FastTrack advises customers that the ATO’s Single Touch Payroll is coming and confirms that FastTrack360 will be compliant with this major legislative change

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