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Single Touch Payroll Phase 2 Postponed
Single Touch Payroll reporting phase 2 was planned for 1 July 2021 but has been extended to 1 January 2022 after industry pressure on the ATO to extend the deadline because of COVID-19 impacts on business, software providers and our industry.
Phase 2 requires additional information to be reported with each STP pay event.
Payroll software will include broader reporting parameters and categories, including detailed income type, lump sums, itemised allowances, child support and the ability to lodge tax file number declarations from within STP reporting.
There is nothing you need to change right now – we’ll keep you updated when the implementation is closer.
The superannuation guarantee contribution statutory rate rise has been planned for many years.