Category Archives: Payroll

New Tax Tables

With the ATO releasing the new NAT 1004 and NAT 3539 documents for 2019/2020 on their website last Friday, InterAcct have updated the Tax tables for the coming financial year. 

Contact Support if you need assistance installing the new tables. 

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Single Touch Payroll for All.

Well it looks like the House of Representatives have finally passed the legalisation for the Single Touch Payroll to be a requirement for all Australian Businesses. Good news that InterAcct have this feature as part of its standard Payroll module. It was a free update to any existing Users and will be able to run for all sizes to businesses. If you would like more Information give us a call.

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Single Touch Payroll Updated

Well we have successfully moved 100% of existing payroll users that required it across to Single Touch Payroll ahead of the roll over this weekend. As well as the new tax tables. Congratulations to our team for all of their hard work.

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Product Verification Testing for STP

It’s taken just over a month to get everything ready for the Product Verification Testing for STP, but today we have managed to upload our first data set to the ATO for testing. A few formatting changes but we got there in the end. Now we just need to wait until the ATO confirms the data and all of our clients can go into production.

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Passed Digital Service Provider security

Just to update clients and prospective clients alike, InterAcct Software have passed the ATO security requirements for Single Touch Payroll and will be white listed as a Single Touch Payroll Provider. This required a self Assessment of ISO 27001 which was a couple hundred pages of text to send to the ATO all completed with the help of Matt at Compliance Council  

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Payroll Training Videos

The Payroll training videos to the software have been updated with the latest changes to the Payroll system including the Single Touch Payroll (STP) screens that are now part of the standard software

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STP (Single Touch Payroll)

Our test STP datafiles have been sent off for confirmation. Once Confirmed we will be rolling out the changes to our Clients that have the payroll module.

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Single Touch Payroll

From July 1st 2018 all Australian Businesses that employ 20 or more staff will be required to report through Single Touch Payroll (STP). This will affect around 3% of Australia’s 2 million businesses.

The cut off for your headcount to find out if you will require STP is April 1st 2018. There are some exceptions being given to businesses with large swings in staff numbers or where they have little to no Internet access.

STP will report digitally, information regarding your payroll transactions directly to the ATO. This will mean that other reporting requirements (such as Payment Summaries) will no longer be required and also that Employees through their MyGov account will be able to see information during the year on their total Pay, PAY-G and Super. This will link through to help them with their tax returns as well.

Smaller Businesses may elect to take up STP if they wish, and there are plans to make them also comply perhaps as early as 2019.

Medium term it’s going to be a good change for businesses but in the short term it’s going to mean that you will require STP compliant software and that in some cases there may be charges for processing these transactions, and/or costs in getting new software.

The details of what and how the process will work are still being finalised, let’s hope that the ATO and their partner Gateways are all up and ready in time for their deadline less than 8 months away.

More info can be found on the ATO website.

 

 

 

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2017/18 Tax Tables

The new Tax tables for the 2017/18 year are available to Users of the InterAcct Payroll Module. Please contact support if you require assistance.

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New New 2016/17 Tax Tables

We have the new tax tables that were finalised by the ATO 16th of September 2016 that come into effect 1st October 2016 for new payroll transactions. If you need to have your tax tables updated, please contact Support@InterAcct.com.au

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