Will KeyPay support Single Touch Payroll?
Will KeyPay be ready for Single Touch Payroll on 1 July 2018?
KeyPay’s implementation of Single Touch Payroll (STP) is well underway, we do not require a deferral because we will be ready to deliver Single Touch Payroll as per ATO requirements.
We are currently developing against the latest version of the Single Touch Payroll specification, which is in draft at present but due to be finalised in the near future. We don’t have an ETA on when it’ll be ready to use, however, we will definitely be ready before 1 July 2018.
The reality is STP features will not be released before 1 July 2018 because the features cannot be used - the ATO will not have the capacity to process transactions by organisations that are not involved in pre-release testing.
To be clear, KeyPay will be compliant as per the ATO legislation before EOFY. Please keep an eye on the 'Action Items' section of your payroll dashboard for updates on this important issue.
In the meantime, you can now get a look at what STP will look like in KeyPay, click on this link... STP sneak peek
Don't know what STP is?
Click on this link to read more about what STP is/means... http://keypay.com.au/industry/single-touch-payroll and this one for information about included employees... http://keypay.com.au/industry/single-touch-payroll-headcount
Click on this link to go directly to the STP page on the ATO website for more details (including a couple of video tutorials)... https://www.ato.gov.au/about-ato/about-us/in-detail/strategic-direction/streamlined-reporting-with-single-touch-payroll/
Finally, it's important to note that STP isn't mandatory for anyone until July 2018 and even then, it's only "required" for employers that have 20+ employees. Rest assured, we will provide our users with access to articles and/or videos to explain once it comes into play.
If you have any feedback, feel free to contact us via firstname.lastname@example.org.