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A. What to consider as an employer

Single touch payroll

Section: 1.7

The Australian Taxation Office will start using Single Touch Payroll (STP) system data to identify and warn employers on non-payment of super guarantee.

With the introduction of STP, the ATO has access to data around employer compliance in reporting obligations, giving the office an "unprecedented" level of visibility of super information at the account and transaction level.

Importantly for super, the ATO can now check what was reported as owed by the employer as a superannuation guarantee contribution has actually been paid into the super fund of an employee.

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Monday, October 26, 2020