ERP Software for Australian Businesses

Quarterly BAS lodgment deadlines fall on October 28, February 28, April 28, and July 28. The BAS covers not just GST but also PAYG (Pay As You Go) withholding and installments, making it a comprehensive periodic tax report. Yukti generates BAS-ready data with the correct classification of GST-free, input-taxed, and taxable supplies, reducing the time businesses spend preparing their quarterly reports.

Single Touch Payroll (STP) has transformed how Australian businesses report payroll information. Under STP Phase 2, every employer, regardless of size, must report detailed payroll data to the ATO each pay cycle. This includes gross payments, tax withheld, superannuation liability, and detailed breakdowns of allowances, deductions, and employment types. Reports must be submitted on or before each pay day. STP finalisation declarations are due by July 14 each year. Yukti integrates with ATO's STP reporting APIs to transmit payroll data automatically with each pay run.

Superannuation (retirement savings) compliance is undergoing a major change. The Superannuation Guarantee rate reached 12% of ordinary time earnings in the 2025/2026 financial year. Starting July 1, 2026, Payday Super changes the payment timeline: super must be paid within seven days of each pay run rather than quarterly. This is a significant operational shift that requires tighter integration between payroll processing and super fund payments. Yukti automates super calculations at 12% and generates electronic payment files aligned with the new Payday Super timeline.

Australian accounting standards follow AASB (Australian Accounting Standards Board) pronouncements, which are IFRS-aligned with some Australian-specific modifications. Reduced disclosure requirements (RDR) are available for entities that do not have public accountability. Yukti supports both full AASB and RDR reporting configurations.

Taxable payments annual reporting (TPAR) requires businesses in specific industries (building and construction, cleaning, courier, IT, security, and others) to report payments made to contractors. Yukti tracks contractor payments and generates the TPAR data required by the ATO.