Single Touch Payroll (STP) Phase Two Explained
Improving visibility of employee payments and reporting on super was a key driver for the introduction of Single Touch Payroll. This theme continues for phase two.
Payroll Software Providers need to comply with new ATO requirements by 1 July 2021.
And, we'll be ready to support our payroll partners.
The ATO is planning on rolling out Phase 2 of Single Touch Payroll (STP) after the successful implementation of the first release. Here’s a summary of what we know so far.
What it means for you
Single Touch Payroll Phase 2 is a bigger move towards more complete digital records and reporting. Making it easier for everyone.
We’re part of the ATO’s STP Phase 2 working group and our role is to help guide the solution so it benefits everyone.
We’ll continue to keep you in the loop as more is known and development timelines are released.
Right now there is nothing for you to do
Your account manager will discuss implementation plans closer to the time but if you have any questions about what this means for your business please reach out to them.