Single Touch Payroll is live in Australia. Are you ready?
Single Touch Payroll (or STP) is a reporting change for employers required by the Australian Taxation Office (ATO) to streamline processes. It means employers will report payroll information directly to the ATO from their payroll or accounting software, at the same time they pay their employees.
20 Employees or more
If on April 1, 2018 you are an employer with 20 or more employees, including contractors, you need to start reporting Single Touch Payroll or STP to the ATO from July 1, 2018
19 Employees or less
If on April 1, 2018 you are an employer with 19 or less employees, including contractors, you need to start reporting Single Touch Payroll or STP to the ATO from July 1, 2019
Working closely together with the ATO, we have made the necessary product enhancements to FastTrack360 that will ensure customers meet their Single Touch Payroll (STP) obligations.
We will notify customers of their scheduled STP update. The release will be made available to customers at no additional cost.
In the meantime, make sure your business is STP ready with the checklist below.
Download the FastTrack STP Readiness Checklist
Deferrals or exemptions may be granted if employers are unable to meet their STP obligations by the mandatory start date of July 1, 2018.
FastTrack have obtained a deferral which will cover customers should they require additional time to meet their STP obligations. Eligible customers can request the FastTrack Deferral Reference Number (DRN) for any discussions with the ATO. The ATO will recognise the Deferral Reference Number as an indication that the customer has received an ATO initiated deferral.
The FastTrack DRN will cover customers up to the agreed deferral date. If customers require additional time, they must apply for an Employer Deferral individually as soon as they are aware that they cannot meet their STP obligations. Customers must apply for an exemption if the additional time is more than a financial year.
When a deferral or exemption is granted, the employer must continue to meet ATO lodgement requirements (e.g. tax file declaration, Payment Summaries, PSAR files).
As part of the Australian Business Software Industry Association board, we will continue to update customers on any key information as it becomes available. We will also provide customers with further education opportunities.
Please keep an eye out in your inbox for any communications from us and stay informed via the ATO STP website page. Below are some useful links published by the ATO:
FastTrack Updates
July 2018
FastTrack went live with STP!
May 2018
FastTrack successfully completed conformance testing with the ATO. This means we have successfully submitted an STP paybatch to the ATO.
April 2018
FastTrack completed STP product development in FastTrack360.
March 2018
FastTrack publishes this Single Touch Payroll website page for customers
FastTrack updates customers on Single Touch Payroll progress and the deferral process.
February 2018
FastTrack reminds customers moving to FastTrack360 (v11) of their Single Touch Payroll obligations
January 2018
FastTrack publishes a press release announcing STP compliance available here
May 2017
The ATO’s Kim McCall, Director of Business Delivery & Implementation Single Touch Payroll, joins FastTrack on the Vega roadshow event discussing Single Touch Payroll and answering questions
April 2017
The ATO’s Kim McCall, Director of Business Delivery & Implementation Single Touch Payroll, answers FastTrack Customer questions about Single Touch Payroll on video
March 2017
FastTrack Customers send in questions about the Single Touch Payroll to be answered by the ATO
April 2016
FastTrack advises customers that the ATO’s Single Touch Payroll is coming and confirms that FastTrack360 will be compliant with this major legislative change