In the 2019-2020 Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information. The expansion is also referred to as STP Phase 2 and will reduce the burden for employers who need to report information about their employees to multiple government agencies.
The mandatory start date for STP Phase 2 was 1 st January 2022. There are many benefits to employers with implementing the changes in Phase 2, however, to set up your accounting software to be compliant may be confusing, daunting and overwhelming.
Please contact Santi Accounting if you would like assistance or for us to review your STP set up.