When you report payroll
• a payment summary annual report for the ATO, stating how much the business paid in salary or wages, the PAYG withheld, and some superannuation contributions made on their behalf
• a payment summary for each employee, stating what each employee received in wages or salary, the payroll taxes collected from their pay, and some superannuation contributions made on their behalf
The payment summary yearly report and payment summary are no longer available with STP.
There will be no more payment summary annual reports.
No more employee payment summaries, either
Cybele are Chartered Accountants-Bilingual in Spanish
- Report payroll online
- Comply with single touch payroll
- Contact Cybele
The ATO no longer accepts paper forms for reporting payroll transactions. You must submit the information electronically, using a format called as SBR (Standard Business Reporting).
Employers with 1-4 workers are entitled to use the free or low-cost solutions developed by software developers for the ATO. These solutions should cost no more than $10 per month.
You must ensure that you can submit compliance reports on each payday. This is what it means:
- If you utilise online payroll software, it should be adequate. Simply ensure that it generates ATO-compliant reports.
- If you use desktop payroll software, you should look for a provider that will upload your payroll reports, convert them to the ATO's necessary format, and submit them on your behalf.
- If you utilise spreadsheets or pen and paper, you must locate a provider to translate the data into a digital report format that is compliant and submit it on your behalf.
If you don't currently work with an accountant or bookkeeper, now is a terrific time to start.
Contact Cybele Accounting and Bookkeeping and let us take the stress out of your single touch payroll.