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PriyaSelvaraj's avatar
PriyaSelvaraj
MYOB Staff
2 years ago

Payroll Record Keeping Obligations

Record Keeping Obligations:

The ATO requires employers to keep payroll records for every employee and contractor.

 

As an employer, you have 5 employee record-keeping obligations:

  1. Records for payments made to employees

  2. Records for super contributions for employees

  3. Records for super fund choice for your employees

  4. Records for Pay As You Go withholding (PAYGW)

  5. Records for fringe benefits provided.

Single Touch Payroll (STP) doesn't change your existing record-keeping obligations. There are no additional records you need to keep and you must keep these records for 5 years.

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