Single Touch Payroll (STP) – Phase 2

Single Touch Payroll (stp) – Phase 2

 

Single Touch Payroll will be expanded from 1st January 2022, with additional requirements.

 

 

Whilst the Australian Taxation Office are currently working with digital services providers to update their Single Touch Payroll enabled software, there will be additional information to submit.

Some of the key changes include:-

Disaggregation of Gross Income

Separately itemising items of gross income such as, allowances (separated by type), bonuses and commissions, directors’ fees, overtime pay, paid leave (and the type of paid leave), salary sacrifice,

Employment Status

Information such as employee cessation date and reason, employment basis such as casual, full time, part time etc and tax treatment (e.g. as claiming tax-free threshold, Medicare levy exemption and study loans, etc)

Income Type & Country Codes

Details of type of income (i.e. Salary and wages, working holiday, closely held payees, inbound assignees, etc).  Country codes may be required for payments to Australian residents working overseas or a working holiday maker, for example.

Lump sum payments

Lump sum E payments and Lump sum W (i.e. return to work) payments.

Child support garnishees and child support deductions

This will reduce reporting to child support registrar

 

 

AcctWeb

 

 

 

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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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