Please refer to the list of frequently asked questions below, if you cannot find your question or an appropriate answer then please Contact Support.
When does STP come into effect?
Single Touch Payroll is being rolled out with the 2018/2019 financial year. Therefore the start date is 1 July 2018. From this date, you will need to report all pay data (e.g. from pay runs) through STP.
How do we register for STP?
There is no need to register for STP, 'substantial employers' will automatically be enrolled and required to report via using STP starting 1 July 2018. If you aren’t already though, then you must register for PAYG withholding.
As an employer, what are our obligations under STP?
The ATO has an in-depth article detailing employer obligations. Our software solution will assist you with all your mandatory reporting requirements. And because of the built-in nature of our solution, when processing a pay run, doing an STP submission will mean just a few additional clicks.
Single Touch Payroll
Are you ready?
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In short, you will need to count the number of employees on your payroll on 1 April 2018 to find out if you are a 'substantial employer'. You need to do a headcount, not a count of your full time equivalent (FTE). If you have 20 or more employees on 1 April, you will be a 'substantial employer' and will need to report through Single Touch Payroll from 1 July 2018. Once you are a substantial employer you will be required to continue reporting through Single Touch Payroll even if your employee numbers drop below 20.
For more detailed information please refer to the ATO'
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article.
Should we be worried about complying with the new regulations and incurring a penalty?
No, our STP solution will be in your account and available prior to 1 July 2018. When you start reporting through STP, the first 12 months will be a transition period. The ATO will be working closely with employers (and if required their Digital Service Provider, aka us) to help ensure submitted information is correct. Employers will also likely be exempt from administrative penalties for failures to report on time. For further information see: Penalties, exemptions and deferrals
Will we need to issue Payment Summaries for the 2017/2018 FY?
Yes, employers’ obligations for the 2017/2018 financial year are un-changed. Therefore, your end-of-year process should be the same as last - you will need to distribute Payment Summaries to employees and submit the relevant Payment Summary Annual Report (PSAR file) to the ATO.
Once using STP, will we need to issue Payment Summaries?
For detailed information on this topic
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see Finalising your Single Touch Payroll Reporting. You will not have to provide payment summaries for the following payments if you reported them voluntarily through Single Touch Payroll:
- payments under voluntary agreement
- payments under a labour hire arrangement
- death benefit employment termination payment.
You will need to provide a payment summary for any payments not reported through STP.
Will our pay run process need to change?
Since you will need to submit pay event information to the ATO on or before each pay date - there will be an additional step to the pay run process. We are striving to keep this as simple and intuitive as possible for you with a minimal learning curve. This means, that meeting your obligation to report through STP will be down to just a few more clicks.
Is Infinet Cloud's STP solution an integration?
No, our STP solution - much like our Payroll solution - is built-in within NetSuite. No external integration(s) are necessary and your NetSuite account will connect directly to the ATO's servers to submit STP information.
Are there any additional security concerns with STP?
No, at Infinet Cloud we take security very seriously. All your payroll data will continue to reside within your NetSuite account. When submitting pay data via STP, your NetSuite account will connect securely directly to the ATO's servers and communicate directly - your data will not be transported through any other 3rd party. Further, prior to any STP submission, you will have an opportunity to review the data being submitted.
What is Infinet Cloud's relationship with the ATO?
We have a long-standing relationship with
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the ATO
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and ABSIA. Under the their definitions, we are a Software Provider and Digital Service Provider (DSP) of STP-enabled payroll software. We are currently going through the DSP review and certification process to ensure the highest of standard for you, our customers.