Single Touch Payroll will be available from July 2016 to streamline the employers’ reporting obligations by:
- Providing a digital channel to simplify the process of completing tax file number declarations and Super Choice forms;
- Notifying superannuation funds and government agencies, such as Centrelink, when an employee ceases employment; and
- Eliminating the need to report employees’ PAYG withholding through activity statements and payment summaries.
The Tax Office is asking employers and other stakeholders to provide comment on:
- Transition arrangements;
- Suggestions on how to minimise implementation and compliance costs; and
- The potential for employers to remit employee PAYG withholding and the superannuation guarantee at the same time employees are paid.