Is your payroll vendor sending you to a
provider for Single Touch Payroll?
If you are considering using a Third-Party Gateway provider, it is important to consider the inherent risks of this solution.
These are the questions you’ll want to cover off:
Who is managing the security of data submissions to the ATO, and what levels of encryption are being applied?
What guarantees do they have in place; will they have the right level of support?
What costs will be passed onto your business?
"The market is really noisy about STP… I approached MYOB asking if they are really ready to Go Live, because everyone says it is impossible. And 10 days later we implemented STP."
MYOB PayGlobal client, Journey Beyond
Why you don’t want to leave Single Touch Payroll too late!
Single Touch Payroll (STP) becomes mandatory on 1 July 2018. It’s commmon knowledge that many payroll vendors won’t be ready by 1 July.
For those concerned about the readiness of their payroll vendor these are three questions you need to answer.
Will our payroll vendor be ready for Single Touch Payroll?
What are the risks if our payroll vendor proposes using a third party STP provider as it isn’t a secure end-to-end solution?
How do we get compliant if our payroll vendor asks us to source our own third party STP provider?
Be ready for Single Touch Payroll with MYOB
Lets cut to the chase. For decades MYOB has been a leader in
Australian compliance. We’ve been through our share of ATO changes
from SBR to Superstream. In the process we’ve helped our clients
transition with intelligent solutions.
STP has been no different. Since its inception, MYOB has been
working directly with the ATO to ensure that all our software is ready
In fact, we were the first major vendor to successfully make an STP submission to the ATO.
For larger companies (from 500 to 10,000+ employees), MYOB
PayGlobal is ready and compliant with Single Touch Payroll. If you have concerns about the readiness of your payroll vendor, now may be the
time to consider moving to MYOB PayGlobal.
How can we help?
STP Risk Assessment
MYOB PayGlobal has been helping businesses with over 500
employees set up and run robust, complex payroll operations
for 20 years. Our STP Risk Assessment can help you identify
what preventative actions are needed to be ready for STP.
- Risks associated with the timing of STP changes
- What employee payroll data you need to collect to be compliant
- Impact on Employees
- How will the process impact your employees?
- What do you need to communicate to your employees?
- Payslip and Distribution process changes and what employees need to know
- Impact to your payroll team
- Payroll process (current vs what is needed)
- Review and risk of proposed STP solution
- ATO deferral review, assessing STP compliance plan meets ATO standards
- PAYG Payment Process gap analyses for STP requirements
- Impact on Superannuation, New starters, Terminations (ETP), pay adjustments and reporting