There are a few things you can do now to help ensure you are ready for Single Touch Payroll (STP) on 1 July 2018.
- Conduct an employee (headcount) audit of your employees as at 1 April 2018, to determine if you have 20 or more employees. For definitions of ‘employee’, please click here
- If you had 20 or more employees on 1 April 2018, check with your accounting software provider if their product is STP ready. We have provided additional articles to assist you with this.
- If your software will not be STP enabled by 1 July 2018, talk to your provider to find out when their payroll solution will be STP compliant.
- If your software provider is not enabling STP in your current payroll solution, Deloitte Private can assist with converting to an STP enabled solution before 1 July.
- If relevant, provide authorisation to your Deloitte Private Engagement manager/Payroll agent to report each pay day to the ATO through your accounting software.
- Review your current payroll processes.
- Start developing a transition/implementaton strategy.
Want more help to assist your business with the transition to this new reporting requirement?
Click here to download a more detailed checklist provided by the ATO. Additionally, we’ve sourced another checklist from Reckon which provides additional items which may help you to be STP ready by to 1 July 2018.
If you need assistance, please contact your Deloitte Private Engagement Manager.