If you are reading this article, chances are you are aware of the ATO’s Single Touch Payroll (STP) initiative that all Australian businesses will need to comply with from 1st July 2019.

However, if you need a quick recap, check out our previous post here.

We understand that looking for an STP provider at this time can be a stressful experience, especially with the end of financial year reporting drawing near. That’s why we have put together a short list of considerations that we think will make your search easier.

1. Security is the top priority

The STP initiative requires employers to report sensitive information, such as employees’ salaries and allowances, pay as you go (PAYG) withholding and superannuation to the ATO, on every pay run. This means that security should be a top priority. You should check if they adhere to rigorous security requirements. For example, they should meet the following conditions:

  • have and able to provide you with an ATO recognised security certification (such as ISO27001)
  • comply with the ATO’s Operational Framework
  • be whitelisted by the ATO for Single Touch Payroll

Meeting these requirements ensures that an STP solution provider has the technical processes and internal measures in place to adequately protect your data, giving you peace of mind when you have a third party dealing with your sensitive information.

2. Flexibility in supporting different file formats

You want an STP solution that is able to adapt to your specific business requirements, reduce time and effort that you can invest elsewhere.

One way is to choose a provider that is able to process either the ATO’s XML file, or give you the option to upload any file format conforming with the dataset of STP to the ATO. For example, MessageXchange’s STP solution allows you the option to either upload your STP file through a web browser or post the reports from your software. Find out more here.

3. Single Touch Payroll readiness

A solution that requires minimal changes to your current software can also allow you to quickly and easily become STP compliant. This is especially important if your software is unable to produce an STP compliant file, meaning you need a solution that can map your file to the ATO’s defined XML format.

Some solutions, such as MessageXchange’s Single Touch Payroll solution, will let you introduce different types of messages, such as SuperStream messages and Standard Business Reporting (SBR2) services that comes with SuperTICK, SuperMatch, TFN declaration, Practitioner Lodgement Service (PLS). Consider an STP provider that can support your business for more than just your current STP requirements. This means that you will be prepared for any new ATO requirements in the future.

4. System reliability

The ATO requires businesses to report to them each time they pay their employees. Therefore, you want an STP solution provider with minimal service downtime. Choose a provider with high system availability to make sure your reports to the ATO are not delayed.

Think about these points when doing your research.

Want to know how our STP solution can help you? Speak to one of our Account Managers today. Fill out your information here and we will be in touch shortly.