If you haven’t already, you should now be preparing to report the additional information required for Single Touch Payroll (STP) Phase 2.

Your digital service provider (for example, Xero) has now released the changes in stages to help you transition to STP Phase 2. Make sure you follow their prompts and instructions on how to prepare. They will tell you when it’s time to move to STP Phase 2 reporting.

You are currently covered by your digital service provider’s deferral arrangement, however, you should be preparing now. It’s important that you don’t leave your transition to the last minute. There are many changes to Single Touch Payroll Phase 2, so dont get caught out.

What you need to do?

Start reporting by:

      • Following your digital service provider’s instructions on the step you need to take,
      • Reviewing the employer guidelines by visiting ato.gov.au/stp2guide
      • Asking us to support you through this transition if needed.

You digital service provider will advise when it’s time to make the switch to STP Phase 2 reporting.

What you need to know?

Even though deferrals have been in place, STP changed on 1 January 2022, we call this STP Phase 2. You need to start reporting additional information on or before each pay day.

The additional information will help Services Australia customers (mainly Centre Link), who may be your employees, get the right payment.

It will also reduce the need for you to provide information about your employees to multiple government agencies.

Many digital service providers needed more time to update their solutions to offer STP Phase 2 reporting so applied for a deferral. A provider’s deferral covers their customers.

If you do want a personal discussion about Single touch payroll and what phase 2 menas for you, contact Financailly Sorted on (03) 9888 3175 or on [email protected]

 

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