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Single Touch Payroll a success

Single Touch Payroll a success As we move into the second month of Single Touch Payroll, we are very pleased to report a 99.8% success rate for STP submissions through Sybiz Visipay. And we’d like to thank all of the customers who attended our live webinar sessions or accessed our STP resources over the last few months.

Whether you pay weekly, fortnightly or monthly, if your business has 20 or more employees you would have submitted at least one Single Touch Payroll report this past month. The ATO are working on their systems to rectify issues causing a minor amount of submissions to get stuck and/or creating false rejections.

When submitting your second report, it may look like employee amounts have doubled up, whereas employer totals are on par with the first period. It’s important to know that the employer totals are relative to the pay event being reported, whereas the employee level totals are year to date.

Probably the most confusing thing for customers at the moment is timing of STP reporting and rolling periods. The best practice is to process pays, report STP and then roll the period prior to processing any more pays for that frequency. For more questions and answers, see our FAQs.

If you are still unsure about your Single Touch Payroll obligations, we recommend you check out the STP resources available on our website. You can also contact Sybiz BusinessCare for further queries.

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