Single Touch Payroll Phase 2 was rolled out in January 2022.
In this phase, employers are required to report additional information such as payment type and reason of any cessation of employment.
Deferral
You may be allowed a deferral in adopting the STP Phase 2 if you use one of an accounting software:
- Xero – Deferred until 31 Dec 2022
- MYOB – Deferred until 31 Dec 2022
- Quickbooks – Deferred until 28 Feb 2022
Additional information for reporting
1. Pay codes/categories
Below need to be reported as separate pay items:
- Allowances
- Overtime
- Bonus and commissions
- Director’s Fees
- Salary sacrifice
- Leave
2. Employee details
Detail employment type, whether on full-time, part-time or casual basis
3. Employee termination reason
Detail the reason for termination
4. Additional tax information*
Employers are no longer required to file a TFN declaration. Instead, STP Phase 2 will include a 6-character tax treatment code for each employee.
TFN declaration forms are still to be provided by each employee before the commencement of employment and to be kept by the employer as a record.
*Accounting software is still working on this function. Users will be notified when it is ready to use.
As always, if you have any questions, we can be reached here.
