MYOB has you covered for the ATO’s rollout of Single Touch Payroll Phase 2.
This will be available in your software from March 2022.
We’ve received a deferral from the ATO until late August 2022 to give you time to get ready.
In the meantime, there are some things you can do to get started.
Why STP Phase 2 is being rolled out by the ATO
Minimise the workload when reporting to multiple Government agencies processes
Minimise manual processes and remove current issues for employers
Improve the view of payroll data to support the delivery of social welfare
Minimise the need for employment separation certificates
Minimise the need for separate Child Support reports
What’s changing for you
We’re rolling out software releases from March to help ensure your current MYOB payroll software is STP2 compliant. We’ll email you to confirm when the latest version of your software is available.
There are some important steps you will also need to undertake to be STP Phase 2 compliant. This includes:
- Update employee fields and reporting categories (allowances)
- Complete the STP Phase 2 readiness checklist after your upgrade to review the changes
- Report each pay run to the ATO (same as you normally would)
Learn more about how to get STP Phase 2 ready:
What isn’t changing
Despite additional information being required in your STP Phase 2 report, there are many things that stay the same, such as:
- The way you lodge your STP report
- STP reports are still due on or before pay day unless you are eligible for a reporting concession
- The types of payments that are in-scope for STP reporting
- Taxation and superannuation obligations
- End of year finalisation requirements.