I have recently read in a tax newsletter, that the government will be simplifying tax and super reporting from 1 July 2016, by introducing Single Touch Payroll. Under this system, an employer's accounting software will automatically report payroll information to the ATP, when employees are paid. This will eliminate the need to report PAYG Withholding on BAS and the need to issue annual Payment Summaries. Would like to know whether the Development Team are planning software updates and client training, to meet this change. Would also like to know the views of other CCs Kym Yeoward Darwin
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This subject was touched on in 2011, but the software is now slightly different as is the ATO form for payment summaries-now NAT 72769 (Payg voluntary seems to be a little category all on its own). Myob still likes the the term labour hire, but this category doesn't fit. They are to be given payment summaries as 20% is Voluntarily withheld- I have also played around and spoken to customer support- we are basically not catered for. Payroll insists on TFN's which it should be ABN's we're after. Whilst they are a supplier- this doesn't work cause we need payroll involved, due to tax withheld. Help help help - I'd like to make use of why I bought this program. We are not building industry- so none of that fits either. Its Share fishing - any ideas..
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