Is your business ready for Single Touch Payroll (STP) Phase 2 starting 1 January 2023?
Phase 2 of the rollout will help reduce reporting burden for employers who need to report information about their employees to multiple government agencies.
STP Phase 2 is only applicable to business paying wages.
What you need to do:
- You will be prompted by your payroll software (MYOB, XERO or any other software you use) to set up STP Phase 2, simply choose the right ATO reporting category for each pay item in the payroll software. This will only take few minutes.
- If your MYOB software do not prompt you to set up STP Phase 2, it could be because you are using an old MYOB Essentials file and MYOB has an ATO extension for the Old Essentials files until March 2023.
- Further information in relation to STP Phase 2 set up for old MYOB Essentials files in January 2023.
We encourage all businesses using payroll to get the STP Phase 2 set up this week.
More information can be found via the ATO website.
Don’t forget we are here to help. Contact your Roberts + Morrow accountant if you would like some assistance.
