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ATO adds pre-fill to PAYG

ATO adds pre-fill capability to PAYG for activity statements from STP data.

This July, the ATO announced a valuable time saving addition to processing the PAYGW component of a clients’ activity statements.

Now PAYG withholding labels W1 (Total Salary and Wages) and W2 (Amounts Withheld From Salaries and Wages) will be pre-filled from the Single Touch Payroll (STP) data if the STP has been lodged on time.

Australian Bookkeepers Association (ABA) Director and Co-Chair of the ATO BAS Agent Association Group (BASAAG), Kerri Jarius, was at the forefront of advising the ATO on this change.

Kerrie explains the change will see efficiencies in bookkeeper practice, while still ensuring bookkeepers maintain full control and oversight.

“This is a similar concept to current system of prefilling shares information on tax returns by Accountants.  The information that is available is prefilled for the Agent to confirm. This is just another step in automation that means more efficient processes for the bookkeeper,” said Kerrie.

“Automation makes us more valuable, because our role is elevated from data entry to analysis where we are there to check the accuracy of the data and make sure everything is correct. “BAS Agents can still check the software matches as we always do, and if there’s a problem and change is needed after the prefill date, you can always amend it. The software continues to be the source of truth.”

“The ATO is under pressure to make it easier for small business and they feel this initiative will do that,” said Kerrie. “The ATO are going to get that information quicker and work out more accurately if any super is outstanding and see if anyone is doing the wrong thing.

With BASAAG chosen to drive this initiative, Kerrie considers this to be an acknowledgement the ATO recognises bookkeepers as central to the tax system.

“BAS Agents are recognised as critical to the process,” said Kerrie. “This is our wheelhouse and it’s right that our voice guides these significant changes. “I’m pleased the functionality has ensured we maintain the control worthy of our expertise.”

For more information, see: ATO PAYG pre-fill for activity statements.

Category
ABN
Published
13 Jul 2023
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