Employee Payroll? More? Never before has the ATO wanted more…….”Single Touch Payroll (“STP”) Phase 2″
Who?
This applies to all employers.
What?
Single Touch Payroll (STP)? Your software reports employee remuneration directly to the ATO (or rather, it should by now….).
What has changed?
You will need to provide more details of what, and how, you are paying your employees.
When does STP Phase 2 start?
1 January 2022.
What do I need to do?
Update your employee information when you’re prompted (If you have STP compliant accounting software (e.g. Xero). If you’re not sure if your accounting software is “STP compliant,” you should double-check with them.
STP is now “serious.”
Want more information?
More detailed information can be obtained on the ATO website. Please copy and paste this link in your browser: https://www.ato.gov.au/Business/Single-Touch-Payroll/Expanding-Single-Touch-Payroll-(Phase-2)/
If you would like more information in regard to STP Phase 2 or deferring, please feel free to contact Bowden Liberatore offices on 07 3879 3303.