Single Touch Payroll

MYOB is ready for the simple way to meet your obligations, no matter what product you use

Be ready for Single Touch Payroll with MYOB

Single Touch Payroll is almost here and MYOB is working directly with the ATO to ensure that you’re ready to go when it becomes mandatory on 1st July 2018 for businesses with 20 or more employees. All of MYOB’s payroll enabled solutions will be compliant prior to the reporting date and deliver an easy-to-use solution to make this transition as smooth as possible. Single Touch Payroll will be a big change for a lot of businesses so make sure you are ready.

What is Single Touch Payroll?

Single Touch Payroll is a new, simpler way to report your employees’ payroll information. This reporting change, mandated through new Australian government legislation, will ensure employers report payments such as salaries and wages, PAYG withholding and super information electronically through the ATO directly from their payroll software at the same time they pay their employees.

As a result of Single Touch Payroll, businesses will no longer be required to complete payment summaries at the end of the financial year as it will have already been done and available to employees through myGov. You will report your employees’ payroll information directly to the ATO from your payroll solution.

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What do I need to do?

This new reporting method will be mandatory from 1st July 2018 for businesses with 20 or more employees. If your business needs to be STP compliant and you aren’t yet using an MYOB product, ask your vendor what steps they are taking to update your product.

You would have needed to conduct a headcount of your employees back on 1st April 2018. If you had 20 or more employees on this date, STP will be mandatory for your organisation come 1st July 2018. It will be voluntary for employers with 19 or less employees to adopt an STP solution at this time. If you wish to report STP, MYOB products will be enabled for you as well.

Click below to find out what your business needs to do to prepare:

Organisations who use MYOB PayGlobal will find that STP does change their payroll process significantly. We’ve built a readiness assessment package which will include review of current processes and advice on how to adapt them to STP compliant steps. Contact us at info@payglobal.com to find out more.

For business owners who are using one of MYOB’s small business solutions (e.g. MYOB Essentials or MYOB AccountRight) who have 20 or more employees and are impacted, changes are being delivered in-product that will assist you to get ready for Single Touch Payroll. We encourage you to use the readiness assessment tool in AccountRight Live 2018.1.1 and Essentials.

For those employers that had 19 or less employees on 1st April 2018 there is no mandatory requirement to use an STP enabled solution until 1 July 2019. However, solutions will be designed to allow employers who have 19 or less employees to take up an STP solution on a voluntary basis.

As a Certified Consultant, MYOB Bookkeeper or MYOB Accounting partner you may have clients who will be impacted by the STP changes. All MYOB partners are encouraged to familiarise yourself with STP, identify any impacted clients, work with your clients on a transition plan and then update software as it becomes available. Contact your Partner Manager directly if you have any questions.

How do I get ready?

In addition to the employee headcount on 1st April, you will also need to update your current payroll solution to a version that is Single Touch Payroll enabled. If you do not currently use a payroll solution from MYOB, you will need to choose one that is enabled for this new method of reporting. This way, you’ll be as prepared as we are for when STP rolls out.

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Need a hand?

For MYOB Essentials and MYOB AccountRight customers, MYOB are offering classroom training courses on STP.

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Need more help?

No matter the product, MYOB has you covered for 1st July.

Visit the MYOB Community Forum, or our AccountRight or Essentials support pages, before 1st July to find out more information if you use these products.

Before 1st July, you can contact support@payglobal.com or speak to your Account Manager directly.

No matter the product, MYOB has you covered for 1st July. Contact your partner directly for more information if you use any of these products.

MYOB has worked very closely with the ATO to ensure any client who is currently utilising AccountEdge, multi-currency on AccountRight Classic or any other AccountRight Classic feature that prevents them from moving online, will have a deferral in place until 31 May 2019. Contact your Partner Manager or MYOB Support if you have any questions.