Single Touch Payroll Phase 2

Single Touch Payroll Phase 2

Single Touch Payroll (STP) is a government initiative that requires employers to report their employees’ payroll information to the Australian Taxation Office (ATO) each time they pay their employees. STP Phase 2 is an expansion of the STP initiative that aims to reduce the reporting burden on employers who need to report information about their employees to multiple government agencies.

 

Reporting

STP Phase 2 will streamline reporting information about employees to government agencies. The expansion of STP, also known as STP Phase 2, will include additional information such as employment type, gross income, and country codes. The changes will also aid the administration of Services Australia.

 

Deadline

The mandatory start date of STP Phase 2 reporting was 1st January 2022. However, the ATO has taken a flexible approach based on business readiness and individual circumstances.  Employers who need more time to transition to STP Phase 2 reporting can apply for a delayed transition through ATO Online services.

SuperStream compliant by 30th June

SuperStream compliant by 30th June

Employers, are you ready for SuperStream?

Small employers (19 or fewer employees) must meet the SuperStream standard by 30 June 2016. Here’s what you need to do.

1. Choose a SuperStream option

You can choose either to use a clearing house or payroll option that is compliant. Ask your accountant or bookkeeper to help you with this;

2. Collect information and update your records such as:

– employee tax file number
– fund ABN; and
– unique superannuation identifier

If your employee uses a SMSF, they must also provide
– fund bank account details; and
– fund electronic service address

3. Start using Superstream as soon as possible.

Start using SuperStream as soon as possible.

Employers with 19 or fewer employees should be SuperStream ready by 30 June 2016 (larger employers should already be using SuperStream).

However, we recommend making your first SuperStream payment no later than May 2016. This will give you time to make several payments and ensure your system is running smoothly before the 30 June 2016 deadline.