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Find out more Find out moreDon’t be fazed by STP Phase 2
Your step-by-step guide to get ready
MYOB has you sorted for the ATO’s rollout of Single Touch Payroll Phase 2. This will be available in your software in early 2022.
We’re continuing to improve the way our customers transition to STP 2 to make sure your experience is the best. We’ve received a deferral from ATO until 1 January 2023 to allow plenty of time to get ready. In the mean time there are some things you can do to get started.
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
We’ve already updated your current MYOB payroll software so the additional information you need to report can already be captured. However, 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 early 2022:
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.