STP RELEASE AND EOFY.
Last Friday, we were excited to announce the ATO officially approved Definitiv as Single Touch Payroll (STP) compliant.
On the back of this, we can confirm we will be releasing STP outside of business hours tonight.
This means from Monday morning you will be able to start processing your EOFY with STP.
If you wish to lodge your 2017/18 EOFY via STP, please contact our Support Team on (08) 6163 4400 and we will be able to turn STP on for your business. Otherwise, STP will automatically go live from 1 July 2018.
Please note, you do not have to process the 2017/18 financial year with STP. You can choose to process your EOFY with SBR.
We will be sending out both the STP and SBR EOFY guides early next week to help you through the EOFY, regardless of the process you decide to go with.
STP AND THE NEW FINANCIAL YEAR.
Although STP has been ready for release, we had been waiting on the 2018/19 tax scales to be passed by Federal Parliament. The new personal income tax rates were passed yesterday afternoon, however, the new rates and thresholds for HELP, SSL and TSL are yet be confirmed.
Why do the new tax scales impact STP? Until all the new tax scales have been confirmed and passed by parliament, unfortunately, you will not be able use STP to report any pay events to the ATO for the 2018/19 financial year.
To confirm, from Monday you will be able to process your EOFY with STP, however, you cannot process any Pay Runs using STP for the 2018/19 financial year.
We will send another communication by Friday 29 June 2018, once all rates have been confirmed and the Definitiv platform has been updated accordingly.
NEW FEATURES OF V.0.0.78.
- Annual Statements (to replace Payment Summaries when you go live with STP).
- Foreign Income Pay Item Types, including reporting via STP.
- You are now able to specify your required costing date when importing the Pay Run Line Item import, rather than being limited to the Pay Period end date.
UNDER THE HOOD.
- Employees without an assigned Pay Calendar will be shown in the Leave Application/Approval Report.
- Termination modal will update and filter Pay Items based on the Termination Type and Termination Reason selected.
- When editing an existing Timesheet, the Shift Type will display the shift used in the Timesheet, even if that selection is no longer valid. This will enable you to update the Shift Type, if it has changed.
- The default ‘as of’ date for the Entitlements PDF Report has been changed to the most recent Pay Run end date.
- Archived Pay Items are no longer visible in Pay Run Add Line Item modal, preventing archived Pay Items from being incorrectly selected.
- Issue has been fixed with the Mandatory Announcements not requiring acknowledgment for all listed employees. Be aware, if you have outstanding Mandatory Announcements, employees may now see this on their next login. If you do not wish for this to occur the announcement(s) will need to be removed from Definitiv.
- Termination Reason can be selected in the Process Termination screen in the Pay Run.
- The Payslip Template has been updated. Changes include; the column widths being extended to allow up to five digits and the employee’s Super Fund Name has been shifted to the following row, allowing for longer named Super Funds to be displayed without text being wrapped.
- The Taxable Period for Marginal taxed Pay Items now has a monthly option.
- The ATO’s 2018/2019 financial year indexed thresholds have been updated.
BEAM DIRECT DEBIT DEADLINE.
Please be advised direct debit contributions submitted prior to 1:30pm (AWST) on 25 June 2018, will be sent to funds on the 28th of June 2018 and will be received by the nominated funds on 29 June 2018.
Any direct debit contributions submitted after 1:30pm (AWST) will be sent on 29 June 2018 and received by funds on 2 July 2018.