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MYOB announces trial launch of STP product

MYOB announces trial launch of STP product

MYOB has announced the launch of its beta trial for Single Touch Payroll (STP) as it moves towards readiness ahead of the 1 July deadline.

Technology Jotham Lian 15 March 2018
— 1 minute read

STP will roll out for employers with 20 or more employees on 1 July 2018, while employers with 19 or less employees will have to start reporting on 1 July 2019.

The accounting software provider has announced that STP is now live for SME clients and partners participating in its beta trial for AccountRight.

As part of the beta trial, pay information was successfully submitted to the ATO in line with the new requirements for Single Touch Payroll compliance changes using MYOB AccountRight.

“We know this is a big change for our customers and we have worked hard to ensure the transition is as smooth as possible,” MYOB chief operating officer Andrew Birch said.

“An important part of that is making sure our customers have plenty of time to test out the new technology before the reporting deadlines.”

Last month, MYOB chief executive Tim Reed said he was confident of his software being “ready to go” for the bulk of its user base, with deferrals applied for its desktop clients.

MYOB clients who are not using an STP-enabled version of AccountRight, because they are using multi-currency, negative inventory, M-Powered Payment or ODBC and those using AccountEdge, have been granted an STP reporting deferral until 31 May 2019.

Earlier, the ATO had admitted that only five out of about 140 software providers that have registered interest with the ATO about providing STP products are ready to go.

Some software providers have applied for deferrals, while individual employers may also apply for a deferral, provided they meet a number of requirements.

However, STP program lead at the ATO, John Shepard, said there will be no mass deferral of start dates.

“The date is set for STP for large employers, and it’s 1 July 2018. That won’t shift, that is the date they need to start reporting by,” Mr Shepherd told Accountants Daily.

“In other words, there won’t be blanket extensions. It’ll be done on a case-by-case basis.”

The ATO have also recently released two forms to help professionals and businesses better understand their obligations, namely the STP factsheet, and the STP ‘get ready checklist’.

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MYOB announces trial launch of STP product
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