Single Touch Payroll Phase 2 Deferal
By now most businesses are well versed in complying with Single Touch Payroll (STP). The expansion of STP, also known as STP Phase 2, is designed to reduce the reporting burden for employers who need to report information about their employees to multiple government agencies. STP Phase 2 involves specifying employment conditions and income types, disaggregating gross wages and reporting child support deductions to name a few of the new reporting requirements.
If you use Xero and MYOB software you must be STP Phase 2 compliant by 31 March 2023.
What do you need to do?
- If you are already compliant, congratulations! You can ignore the rest of this email.
- If you are yet to process the required steps, we suggest you start as soon as possible. Please refer to the links below for helpful information to assist you.
- If you require us to process the steps for you, please let us know as soon as possible by contacting your 4Front Manager or Advisor.
For further information, please refer to:
ATO Website: STP Phase 2
Xero: About STP Phase 2
MYOB: Getting ready for STP Phase 2
If you have any questions please contact your 4Front Manager or Advisor.
Let’s build a future you can look forward to. Call us at (07) 3875 9888 or visit www.4front.net.au to get started today.