The Australian 2018/2019 financial year is fast approaching, and with it, the obligation for many of you to report via Single Touch Payroll (STP). In short, STP translates to the requirement of reporting pay information directly to the ATO on or before each pay date. No need to stress though, as with Infinet Cloud Payroll, this will be handled for you directly by our software. We’re doing our best to keep it nice and simple for you and everything will still be completed right inside NetSuite - all it will take, is an easy extra few clicks at the end of your pay run. And, don’t worry about timing - we will be upgrading all customer accounts with these features prior to the 1 July start date.
If you haven't already then watch the ATO's video or visit their site. Also, make sure you check out our FAQ - Single Touch Payroll (STP) page.
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| When | What |
|---|---|
| 1 April 2018 | Date to decide if you are a “substantial employer” and will be required to report via STP starting next FY. For more information see How to count your employees. |
| May 2018 | Select Infinet Cloud as your Software Provider. This can be done online via the ATO Business portal and more details will be made available towards the end of May, see Notify ATO of Infinet Cloud Payroll (STP). |
| Commencing 11 June 2018 | Upgrading of accounts to Payroll version 18.2 including full STP solution rollout. |
| 1 July 2018 | New financial year and STP start date. |
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- As an employer, what are our obligations under STP?
- How do we get ready for STP?
- Should we be worried about complying with the new regulations and incurring a penalty?
- Once using STP, how will employees view their Payment Summary information?
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