Single Touch Payroll: Phase 2 deferral reminder

Single Touch Payroll: Phase 2 Deferral Reminder

First update was in January 2022, now phase 2.

 

Since the introduction of Phase 1 of the Single Touch Payroll (STP) regime since 1 January 2022, many employers still might not yet be reporting the additional information required under this phase because their Digital Service Providers (DSPs) have deferrals for time to get their software ready and help their customers transition.

However, once these deferrals expire, employers will need to start reporting additional information in their payroll software, including Tax File Number, Australian Business Number details, basis of employment, split of payment types, commencement dates, etc .

If your DSP has a deferral in place, you will only need to start reporting STP Phase 2 information from your next pay run after your DSP’s deferral expires. However, if your business needs more time in addition to your DSP’s deferral, you can apply for your own deferral using ATO Online Services.

 

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Coutts Redington
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First and foremost, we’re accountants. But we like to think of ourselves as a lot more. We work closely alongside business owners to bring more clarity, direction, and support, improving elements of your life beyond just the business. And, with our firm’s history in the Townsville area going back to the 1950s, we’re an established part of the local business community. We take that responsibility seriously.

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