Release Date: 18-Jun-2018
Author: Chris M
At Datacom we’re well aware of the Single Touch Payroll (STP) reporting requirements coming in to place for employers employing 20 or more employees from 1 July this year and our software is ready to report this information for our customers.
However, we are equally aware that some employers are not ready to make this change and are still unsure of what they need to do to prepare. To minimize the disruption to our customers we have arranged with the Australian Tax Office (ATO) a deferral period so that we can smoothly onboard our customers into the STP reporting regime rather than forcing all effected customers to have to report from the fixed 1 July deadline.
Deferral Reference Number
Datacom has been granted a Single Touch Payroll Deferral Notice from the ATO that is valid until 31 October 2018. The deferral number is 54 534 621.
This allows companies that are using Datacom payroll software to implement STP after 1 July (and before 31 October 2018) without penalty. You do not need to seek your own deferral unless you do not believe you will be ready before 31 October and require additional time. For now, you can continue to process your payroll as normal.
Should the ATO make contact with you about transitioning to Single Touch Payroll prior to October 31, you can simply quote the deferral number. There is no need to make contact with ATO with this reference number otherwise.
We understand that this is a busy time of the year for most companies with end of year payment summaries due soon. You should continue to work through this process as normal. There are no changes to your obligations in providing payment summaries to your employees or providing a payment summary annual report to the ATO for the 2017-2018 financial year.
Over the coming months, and well before October, a Datacom representative will be in contact with you to help transition you into the STP reporting process. They will let you know what you need to change (if anything) to get ready, and what changes you will notice when reporting the STP reports each time your payroll is run.
Frequently Asked Questions (FAQ)
The following FAQ covers some commonly asked questions that we are currently fielding which we hope you find useful:
Question: Do I need to contact the ATO with your deferral number?
Answer: No, you do not need to provide our deferral number (54 534 621) to the ATO unless you are asked for this.
Q: Will starting STP after 1 July mean that I have to do more work to “catch up”?
A: No. STP reports employee year to date information. So there is no need to report prior pay period information when starting STP.
Q: Is there much that I will need to do differently once I start STP reporting?
A: The only thing that you will be required to do, is to verify that the information being sent to the ATO is true and correct, much like you’d have processes to reconcile the banking totals before making payments
Q: Can I start STP reporting if I have less than 20 employees?
A: Yes. You can start reporting STP files at any stage after 1 July. Please make contact with Datacom if you are interested in doing this.