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STP is the worst ever legislation I have yet heard of from the ATO besides the introduction of GST!
If you ever want to actually remember, and were around when it first came in, the intro of GST placed the burden on businesses to collect this tax, claim any back they were entitled to (which meant a lot of 'novice bookkeepers'/business owners missed the GST on imports) and left the ATO not having to worry about collecting Sales Tax.
i.e. the business owner/bookkeeper became the tax man.
What you all need to consider is what STP is really about! It is more for catching those that are on a centrelink payment, newstart, parenting, invalid pension etc.
These people are to report their actual income fortnightly to centrelink. They sometimes lie! Centrelink finds out at the end of the year once the payment summary is processed and data matching happens and then the ATO claims back the extra paid. These people then go bankrupt and can't pay it back.
This is big brother working but in 'overdrive'.
While I agree in essence with the principle, it is once again unfortunate the business owner. whether small or a large corporation, needs to once again become the ATO's tax man/auditor.
It should also be remembered in all of this that MYOB/Xero/Quickbooks/Sage or any other Accounting program did not make the actual law! All they are trying to do is to get their clients compliant.
While MYOB do need to at least get version 19 users compliant, until they sort out version 20xx and beyond, they should also not be blamed for something that was not their doing.
My suggestion to anyone with 20-30 odd people on their payroll, especially if most are casual/part time, would be to terminate them on31/3/2018 and re-employ them on 2/4/18. ie have a day off.
Make sure head count on 1/4/18 is 19 employees and you then have until 1/7/2019 to implement the new system, once it is actually passed as legislation.
The other change happening with employers is the loss of the SBSCH on a per client basis. This though is a good change for BAS/Tax Agents as it will mean that we should be able to just use our portal to go to any client we want to do the super return, rather than logging in with a separate User ID and password for each client.
Whether we have to enter all employees again will be another story once it actually comes into play, never got that answered in the recent webinar that I had to sit through!
Welcome to the MYOB Community Forum, I hope you find it a great resource.
If you are moving from AccountRight v19, onto AccountRight 201X.X, you don’t have to go to a cloud based version as AccountRight 201X.X can run files from either a desktop version or from a cloud based storage system depending upon your preference.
Assuming you don’t use any of the AccountRight v19 Enterprise specific features, such as Multicurrency or Multilocation for your inventory then you can upgrade your company file through the inbuilt system within AccountRight 201X.X. Our help article Upgrade to the new AccountRight steps through all of the things that you’ll need to know and how to upgrade your file.
Additionally if you’d like I am happy to organise one of our team to get in touch with you and discuss your concerns.
Please dont hesitate to post any other questions that you may have
Thanks I will watch eagerly for updates so we can ensure compliance in this area.
If you think you need to exit AccountRight v19, you should make arrangements soon to lock in resources to help (in case your migration needs external assistance). This change may possibly cause a stampede of conversions to accounting solutions which have integrated STP support and it may become difficult to get help if you leave this to the last minute.
I watched part of the 5 hour video/seminar that the ATO organised on Thursday 16 November.
There are appears to be some discussion/commentary that Single Touch Payroll (STP) should not apply to very small businesses say less than 2-5 employees.
The ATO appears to be concentrating on the implementation of firms with more than 20 employees as implementation starts one year earlier than those with less than 20 employees.
Implementation for firms with greater than twenty staff should not be problematic as accounting is processed on the day of payroll by regular staff and accounting systems should be of a good standard.
Smaller businesses tend to do the accounting monthly lor some quarterly.
STP may well be very problematic.
What are the benefits for the ATO for the ATO as I understand they have a 28 day service timeframe.
Why would the ATO want weekly payroll details on the day of payment if the timeframe for acting on that information is 28 days?
Some participants in the ATO Forum suggested that the ATO will have computer systems to cope with the increased flow of information.
From past experiences, many tax practitioners would doubt this.
If I was a business owner and upgraded to subscription software at say $1000 per year and the Government announced that STP would not apply to very small businesses, I believe that small busibess owner would be extremely upset with all involved with the implementation of STP.
The ATO should be issuing guidance on what exceptions to STP might apply to very small businesses.
Currently, a PAYG Summary Statement can be prepared by an Agent by 30 September.
I understand that under STP, all PAYG Summary Statement will be due by 15 July.
A 13 week timeframe becomes two.
Closely held Concessions allow Payment Summaries/PAYG Summary Statement to be prepared at the time of preparing/lodging the Tax Return. Will the Closely Held Concessions cease to exist under STP?
There are many areas where the ATO should be providing guidance.
January - last edited January
I am a research coordinator here at MYOB.
I am currently working with the deveopment team to start recruiting for an STP Beta.
and are interested in participating, please email me at firstname.lastname@example.org , including STP Beta in the subject & your best contact number
This Beta is open to both SME & Partners
MYOB Australia Pty Ltd
Thanks for providing info on single touch payroll. Your dedictade page is not loading. has it been taken down?
February - last edited February