Single Touch Payroll - Update
Single Touch Payroll lodgement (STP) functionality will be delivered into Arrow Research Corporation’s products throughout the first half of 2018. Our flagship product Tencia version 2018.1.0.0 will be STP-enabled first with the release of an Arrow Financials version 5.50 scheduled soon after. As announced by the ATO the first mandatory step is to conduct a headcount of employees as at 1st April 2018. If you have 20 or more employees on this date, STP will be mandatory for your organisation.
The ATO are currently finalising the operating framework for digital service providers along with deciding on the mandatory data elements to be included in the STP lodgement. ARC recently attended an ATO webinar which announced an additional three tasks to be completed by all software providers including ARC before STP lodgements can commence. The completion of these tasks are reliant on updates to the ATO internal systems which the ATO has suggested may be available after March 28th 2018.
A new Tencia version 2018.1.0.0 is scheduled for release within the next fortnight, containing all the required elements and system parameters to submit STP data to the ATO via our digital service provider OzEdi.
The advantage of releasing Tencia version 2018.1.0.0 with the STP framework in advance of the ATO internal system amendments ensures that Tencia updates can be scheduled by your Arrow Business Partner for payroll sites that must meet the 1st July implementation criteria. Once ARC has completed the recently-announced ATO compliance tasks, Tencia package updates will be all that is required to enable compliance with STP lodgement obligations.