Single Touch Payroll
What is Single Touch Payroll?
Single Touch Payroll (STP) is a new streamlined way to report employee payroll data electronically to the ATO. Reporting started from 1 July 2018 for companies with 20 or more employees. To be compliant you need to report to the ATO employee’s payroll information including salaries and wages, PAYG withholding, allowances, deductions and other payments and super information at the same time that you pay your employees.
The move to Single Touch Payroll means you will now need to report to the ATO at every pay event, instead of at financial year end. You will no longer need to complete annual payment summaries, this will already be done as part of Single Touch Payroll reporting and will be available to your employees via the myGOV website. There is no need to change your payroll frequency and payment due dates for PAYG withholding and superannuation contributions don’t change.
From 1 July 2019 companies with less than 19 employees will also be required to report via Single Touch Payroll, subject to legislation currently before parliament.
To learn more go to the ATO website.
Single Touch Payroll Compliance
LEVESYS is approved as Single Touch Payroll compliant by the ATO.
How Single Touch Payroll Data is Transmitted
Create your normal pay event, including any miscelaneous reportable items with the LEVESYS payroll application. When your pay event is complete and you are ready to report to the ATO, launch the STP Load Utility within LEVESYS.
LEVESYS creates a file output that complies with ATO specifications and payroll data is uploaded to the ATO via the Ozedi portal, which is launched from within LEVESYS payroll. You seamlessly transmit files and receive confirmations and error messages from the ATO from within LEVESYS.
Your AUSKEY credentials will be an important component for authenticating your connection to the ATO for transmission of the pay event files.