Get ready for Single Touch Payroll Phase 2 (note Xero deferral until 31 March 2023)

Xperion

What exactly is STP Phase 2 and how is it different from phase one? This is the next stop on the STP journey. Where phase one was a way of reporting employees’ tax and super to the ATO, STP Phase 2 expands the program to capture more information. This will reduce the compliance burden for employers and individuals, and help the admin side of things for social support services –…  Read more

Further STP developments

Xperion

In an indication of the far-reaching changes that Single Touch Payroll (‘STP’) will be bringing, Treasury has recently finished consulting on draft legislation that expands the data that may be collected through STP by the ATO (as announced in the 2019/20 Budget). The legislation, if enacted, will broaden the amounts that employers can voluntarily report under the STP rules, to include employer withholding of child support deductions from salary or…  Read more