Whilst the Australian Taxation Office are currently working with digital services providers to update their Single Touch Payroll enabled software, there will be additional information to submit.
Some of the key changes include:-
Disaggregation of Gross Income
Separately itemising items of gross income such as, allowances (separated by type), bonuses and commissions, directors’ fees, overtime pay, paid leave (and the type of paid leave), salary sacrifice,
Employment Status
Information such as employee cessation date and reason, employment basis such as casual, full time, part time etc and tax treatment (e.g. as claiming tax-free threshold, Medicare levy exemption and study loans, etc)
Income Type & Country Codes
Details of type of income (i.e. Salary and wages, working holiday, closely held payees, inbound assignees, etc). Country codes may be required for payments to Australian residents working overseas or a working holiday maker, for example.
Lump sum payments
Lump sum E payments and Lump sum W (i.e. return to work) payments.
Child support garnishees and child support deductions
This will reduce reporting to child support registrar
AcctWeb
18th-January-2022 |