The Sweden Release is just around the corner, and we’re happy to share three of its much-anticipated new features.
Single Touch Payroll (STP):
STP is a government initiative to streamline business reporting obligations. Employers will be required to send payroll information to the ATO at the time of the pay run, rather than annually.
For employers, this means that payroll reporting is part of the pay run process and Payment Summaries are no longer required. On upgrade to the Sweden release, you will be able to setup STP Reporting from within the Payroll module > STP Compliance. At each pay event, you will report to the ATO payments such as your employees’ salaries or wages, PAYG withholding and super information
For employees, you’ll be able to access real-time YTD Pay details via MyGov to enable you to complete your tax return.
How do you prepare for an upgrade to Sweden?
For clients hosted by LawMaster, we will liaise with you to co-ordinate your upgrade.
For clients hosting on-premise, you’ll need to check if your IT Infrastructure is Sweden Ready
(Windows Server 2008 and SQL 2008R2 are NOT supported). ATO requirements specify the use of HTTPS between Client and Server, and this may require updates to your LawMaster Server configuration.
If you need any assistance, just ask your Account Manager who will be able to help.