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Single Touch Payroll - Employers time is ticking !
By NQ Team in Company, Individual, Social, Taxation

Single Touch Payroll (STP) is mandatory for ‘substantial employers’ (those with 20 or more employees) from 1 July 2018.

Are you concerned?

To find out if you are a substantial employer, count the employees on your payroll on 1 April 2018:

Count each employee, not the full time equivalent (FTE).
Once you become a substantial employer you will need to continue reporting through STP even if your employee numbers drop to 19 or less – unless you apply for and are granted an exemption.
If you are part of a company group, you must include the total number of employees employed by all member companies of the wholly-owned group entities located in Australia.

If you have 19 or less employees, compulsory report through Single Touch Payroll will be requested from 1 July 2019.

ATO penalties will applied on any case if no respect of new regulation.

Do not hesitate to contact Bilateral Solutions payroll specialist for any question on this matter.