Single Touch Payroll is the ATO's latest compliance regulation that requires your employer to send employee payroll information to the ATO at the same time as they process a standard pay runs instead of at the end of financial year.
If your employer reports to the ATO through Single Touch Payroll, you will be able to see up-to-date tax and super information through myGov. Employers with more than 19 employees were required to use Single Touch Payroll from 1 July 2018. All other Employers have to start reporting payroll information to the ATO under Single Touch Payroll from 1 July 2019.
What's does this mean for employees?
What do you need to do?
If you haven't already, register for an account through myGov. The Federal Government are increasing communication around myGov saying it is a fast, simple way to access government services online.
When you link your myGov account to the ATO, you can manage your tax and super in one place as well as creating access to other Commonwealth Government online services like myHealthRecord.
Make sure your myGov
account and employer has your up-to-date personal information including:
- Full name
-
Address
-
Date of Birth
-
Superannuation
It's important that you notify your employer straight away if you think something doesn't look right with your year-to-date payment information.
Remember if your employer has less than 19 employees, information for the current financial year will not appear in your myGov account, your employer will still need produce your Payment Summary, so you can lodge you're 2018/2019 Tax Return.
For more information visit the ATO's Single Touch Payroll employee page or speak to your employer.
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