What is STP Phase 2?
Single Touch Payroll (STP) is an Australian Government initiative to reduce employers’ reporting burdens to multiple government agencies. It became a mandatory obligation for all businesses with payroll on 1 July 2019.
STP Phase 2 is a continuation of this initiative, for which businesses are required to report additional information via STP. This aims to streamline the different income assessments required by government agencies.
To ensure you are meeting the requirements for STP Phase 2, you will need to review and update pay items, including pay codes and categories to disaggregate gross income. You may also need to enter additional employee details into the payroll system.