1300 760 930 Customer Login
Aug 2018

Single Touch Payroll

August 20, 2018
Capify Australia

What is single touch payroll?
Single touch payroll is causing quite a stir in the Aussie business world. But what is it and why is it important to be across it? We have put together a helpful guide on all things ‘single touch payroll’ so you can be fully versed in what this new tool means for your business.
Single touch payroll in summary
Essentially single touch payroll is the new ATO reporting system for Aussie businesses. The goal of this new system is to achieve:

  • On time payment to employees
  • Real-time monitoring and reporting to the ATO

Single touch payroll leaves the way businesses calculate staff payments exactly the same. Change kicks in at the moment your payroll is processed. Once your payroll processing is done, you send all required payroll information directly to the ATO – every time you run your payroll. That means the ATO receives up-to-the-minute reporting on:

  • PAYG withholding
  • Superannuation
  • Salaries and wages
  • Salary for return to work payments
  • Unused leave
  • Termination of employment

Sound tricky? It doesn’t have to be. Existing payroll systems like Xero and MYOB can have single touch payroll reporting built in, so the whole process can be streamlined and simple.
Who does single touch payroll affect?
Right now, as a small business owner, you can choose whether or not to bring single touch payroll on board in your business. Not so for larger businesses. From 1 July, all businesses with 20 or more employees must use single touch payroll to report to the ATO on all things payroll.
That said, single touch payroll is definitely worth considering. For starters, it goes a long way to free you up from time spent on administration and payroll, so you can spend more time on your business. Other benefits include:

  • Less paperwork
  • Simpler reporting obligations
  • Greater visibility of key payroll information

Another factor to consider is that the ATO is looking into rolling single touch payroll out as a reporting requirement of small businesses too. So getting your payroll program single touch payroll ready is a good move. Capify small business loans can help you with the costs associated with the transition to single touch payroll.

Or call 1300 760 930 to speak with one of our friendly Lending Consultants now.

More like this

Sep 2019

Australia’s first online small business lender launches new Affiliate Marketing Portal to provide a killer alternative to the Big Banks

September 27, 2019
Capify Australia

Capify, Australia’s most experienced Fintech online business lender, has launched its new Affiliate Marketing portal this week.   “In Australia, Fintech’s need to think fast, and innovate faster. The affiliate portal has derived from the growth we are experiencing in the affiliate and broker market. We want to work with local […]

May 2019

Why SME owners are turning to online business lending

May 30, 2019
Capify Australia

More and more SME owners are turning to online lenders for their business loans, and there are some very good reasons for that. Possibly the biggest reason – the one that leads to all the others – is that online lenders have built their businesses to serve SMEs. They understand […]

Apr 2019

Small business and Profitable Trading

April 17, 2019
Capify Australia

Small business profit peak trading is a dynamic and lucrative time for profits. Set your SME up for peak profitability over small business peak trading periods with these handy hints. As you limber up to capitalise on enhanced retail activity, be sure to consider: Staff penalty rates Small business peak […]


Apply anytime, anywhere

  • No application fee
  • No obligation
  • See how much you qualify for

Still have questions?

See our FAQs

Chances are someone else has had the same question and the answer will be in our FAQs.

Call us

Call us between
8:00am – 6:00pm (AEST) Monday – Friday

1300 760 930

Copyright © 2019 Capify Australia PTY LIMITED (ABN 38 630 469 117) trading as Capify. All Rights Reserved.