The Australian Taxation Office (ATO) has introduced single touch payroll requirements. For businesses with ‘20 or more employees’, it became a requirement on 1 July 2018. For businesses with ‘19 or less employees’ it is required ‘from 1 July 2019’.
It means that pay, tax, and super information will automatically need to be reported to the ATO each pay cycle. Therefore, at the end of the financial year, payment summaries for these employees will not need to be produced.
Software that we use at CCBB&P can easily take care of this new requirement for you, and in fact it may already be available to your business at no extra cost. Find out more here and contact us to discuss your individual requirements and options. By using this software, CCBB&P can also take the hassle out of other payroll activities, and we are happy to discuss these additional benefits.
The above information has been sourced from the ATO website.