MYOB has you sorted for the ATO’s rollout of Single Touch Payroll (STP) Phase 2.
Your software is now ready for STP Phase 2 reporting.
Here you’ll find information to help you transition, including training and instructions. Best of all, our in-product readiness check will guide you through the move. Remember, we’ve got a deferral from the ATO until 1 January 2023 to allow plenty of time to get ready.
Why STP Phase 2 is being rolled out by the ATO
Minimise the workload when reporting to multiple Government agencies processes
Minimise manual processes and remove current issues for employers
Improve the view of payroll data to support the delivery of social welfare
Minimise the need for employment separation certificates
Minimise the need for separate Child Support reports
What’s changing for you
There’s some additional information you will have to update and submit to the ATO before you are STP Phase 2 compliant. This includes:
- Update employee fields and ATO reporting categories (pay items)
- Complete the STP Phase 2 readiness check in your software:
Step 1 – check updated employee details meet ATO requirements
Step 2 – connect to the ATO - Report each pay run to the ATO (same as you normally would)
We’ll also run a check on your payroll information to make sure you haven’t missed anything before you move and start reporting on STP Phase 2. Learn more about how to get STP Phase 2 ready in your specific software:
What isn’t changing
Despite additional information being required in your STP Phase 2 report, there are many things that stay the same, such as:
- The way you lodge your STP report
- 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.