The 2018-2019 Australian Budget will affect the calculation of payroll for Australian employees. This section will outline a number of tax changes that will need to be made for the financial year.
After working closely with the ATO over the last eight months, we’re pleased to announce that we have passed the last hurdle and have achieved whitelisting for Single Touch Payroll. What this means is that we have successfully passed Single Touch Payroll (STP) lodgements to ATO production systems and ATO have verified that the messages conform to their standards and that the information contained in the messages is as expected.
At Datacom we’re well aware of the Single Touch Payroll (STP) reporting requirements coming in to place for employers employing 20 or more employees from 1 July this year and our software is ready to report this information for our customers.
End-of-Year processing will generate Certificates of Earnings for each employee to show their Gross Taxable Earnings, PAYE etc. for the financial year. Any employees who wish to complete a tax return may need this information. In addition to the Certificate of Earnings, other useful year end reports available are the ACC Premium Report and YTD Summary Report.
ACC Earner Levy Rate
What is Single Touch Payroll?
The 2017-2018 Australian Budget will affect the calculation of payroll for Australian employees. This section will outline a number of tax changes that will need to be made for the financial year.
Child Support and the Protected Earnings Amount