It seems a significant majority of payroll software providers have applied to the Australian Tax Office for a deferral of the July 1 2018 commencement of Single Touch Payroll (STP).
If your payroll software provider is granted a deferral by the ATO you, as their customer will not be required to comply in making uploads of your payroll information from July 1 2018. Instead, you will receive an automatic deferral to the date your software provider has been approved. It is essential that you understand the date of deferred commencement and start uploading payroll year to date figures from the commencement date.
By deferring the date of commencement, there will be more time for:
- ATO to clarify certain aspects of STP specifications
- Development and documentation of the completed STP specifications
- Implementation of compliant software and training for payroll administrators.
And the good news? A deferment means your admin and finance teams can continue to focus on preparing and finalising reports for EOFY.
Do you need help? Please call Peter Pryn on 03 9820 6400 or your Hall Chadwick Melbourne team member.
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