BDO and ATO Single Touch Payroll Reporting Seminar Insights
31 May 2019
BDO in Brisbane hosted a highly engaging session with ATO Associate Director, Leanne Conroy, discussing the practical implementation of Single Touch Payroll Reporting (STPR) rules in Australia.
These STPR rules require all organisations to digitally report payments, withholding and superannuation contributions to the ATO in 'real time' as payments are made to employees. The new obligations came into effect from 1 July 2018 for organisations with more than 20 employees, and from 1 July 2019 for smaller employers.
The event provided a platform for attendees to hear directly from the ATO, and learn what businesses need to have in place to ensure they are able to meet payroll obligations in the future. Leanne provided great insights, including the practical aspects of business that need to be considered during this transition period.
A key takeaway from the session is that the ATO will be giving businesses extra time with a strong focus on education (and not penalising) those trying to do the right thing over the next 12 months. Further event takeaways and insights are outlined in the event insights video above.
The transition to STPR over the coming months provides the opportunity for employers to review their processes, improve reporting and invest time with their payroll officer to ensure payroll systems are accurately setup to support Single Touch Payroll.
Please contact us for more information regarding Single Touch Payroll, or to discuss how we may assist your business through the transition to STPR.