Learn what STP Phase 2 means for employers

Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022.

If you employ staff, you’ll need to be ready for this change.

If your business uses Xero, it will be compliant.

If not — or you know someone who is not — there’s time to start thinking about and planning your STP Phase 2 reporting now.

STP Phase 2 reporting means changes to the way employers report:

• amounts paid to staff
• income types
• employment conditions.

The way you lodge and the due date of your STP reports don’t change.

Your payroll software should be updated by your software provider with steps provided for you to take. However if you use a manual system, we strongly recommend that you make time to check your settings in advance of the changeover deadline.

Check the ATO’s guidelines and contact the team at Notch Above Bookkeeping on 1300 015 130 to help you understand the changes and what they mean for your business.

Australian Accounting Awards Bookkeeping Firm of the Year Finalists 2021 and 2020.

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