Single Touch Payroll (STP) is the way that businesses in Australia electronically report salary and wages, pay as you go (PAYG) withholding and superannuation data to the ATO at the time of paying employees. Mandatory STP reporting commenced on 1 July 2018.
Single Touch Payroll Phase 2 (STP2) aims to reduce the burden on employers and remove the need for manual reporting to other government agencies. To achieve this there will be additional information you need to report, which should be captured in Attaché Payroll. The mandatory start date for STP Phase 2 reporting is 1 January 2022.
The changes for STP2 include:
Employment and taxation conditions
Income type and country code
Disaggregation of gross
Child support garnishees and child support deductions
What isn't changing?
The way you submit your STP report.
In scope payments.
STP reports are still due on or before pay day unless you are eligible for a reporting concession.
The types of payments that are in-scope for STP reporting.
Taxation and superannuation obligations.
End of year finalisation requirements.
We are providing three fixed-price STP2 consulting packages that include preparation and data checks, upgrading to Attaché version 21 and implementation services. Find out more