Phase 1: Single Touch Payroll became mandatory on 1 July 2018 for all employers with 20 or more employees.
Phase 2: Single Touch Payroll will be mandatory for employers with 19 or less employees from 1 July 2019. Since July 2018, all employers were able to move over to the new reporting system.
Businesses will need to report to the Australian Taxation Office after every pay run instead of once a year. No more annual payment summary reports or employee payment summary reports as these are produced by the Australian Taxation Office. Employees simply log into myGov to view their information.
New employees will have the option of completing TFN declarations and Super Choice forms online.
Businesses will reduce administrative burdens and costs (other software providers are charging for this service on a pay event or per employee rate). SapphireOne it is included in Payroll/HR.
Generate your HR reports, payslips and manage all your payroll tasks with SapphireOne Payroll/HR Software. SapphireOne provides tailor-made solutions with its SapphireOne Accounting Software, SapphireOne ERP Software, and SapphireOne CRM Software.