Single Touch Payroll (STP) – Phase 2
Single Touch Payroll will be expanded from 1st January 2022, with additional requirements.
Whilst the Australian Taxation Office are currently working with digital services providers to update their Single Touch Payroll enabled software, there will be additional information to submit.
Some of the key changes include:-
Disaggregation of Gross Income
Separately itemising items of gross income such as, allowances (separated by type), bonuses and commissions, directors’ fees, overtime pay, paid leave (and the type of paid leave), salary sacrifice,
Employment Status
Information such as employee cessation date and reason, employment basis such as casual, full time, part time etc and tax treatment (e.g. as claiming tax-free threshold, Medicare levy exemption and study loans, etc)
Income Type & Country Codes
Details of type of income (i.e. Salary and wages, working holiday, closely held payees, inbound assignees, etc). Country codes may be required for payments to Australian residents working overseas or a working holiday maker, for example.
Lump sum payments
Lump sum E payments and Lump sum W (i.e. return to work) payments.
Child support garnishees and child support deductions
This will reduce reporting to child support registrar
AcctWeb
Hot Issues
- Small businesses may ‘collapse under strain of payday super’, IPA warns
- ATO’s hands tied with scrapping on-hold debts, expert says
- What Drives Your Business Growth and Profits?
- Australian Taxation Office (ATO) shifting to firmer debt collection activity
- Why employee v contractor comes down to fine print
- Sharing economy reporting regime for platform operators
- Countries producing the most solar power by gigawatt hours
- Illegal access nets $637 million
- Accessing superannuation benefits.
- Does your business have a company Power of Attorney?
- Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
- GrantConnect
- 2 in 3 SMEs benefit from instant asset write-off, survey reveals
- Updated guidance on R&D claims
- Do you know how to recover debts?
- Wheat Production by Country
- Types of small business benchmarks
- What is a Commercial Lease?
- ATO warns advisers against suspect R&D tax claims
- The year of workplace law upheaval
- How to Resolve Invoice Payment Disputes
- Raft of revenue tweaks in MYEFO to raise millions
- The Countries that Export the Most Wine in the World
Article archive
- October - December 2023
- July - September 2023
- April - June 2023
- January - March 2023
- October - December 2022
- July - September 2022
- April - June 2022
- January - March 2022
- October - December 2021
- July - September 2021
- April - June 2021
- January - March 2021
- October - December 2020
- July - September 2020
- April - June 2020
- January - March 2020
- October - December 2019
- July - September 2019
- April - June 2019
- January - March 2019
- October - December 2018
- July - September 2018
- April - June 2018
- January - March 2018
- October - December 2017
- July - September 2017
- April - June 2017
- January - March 2017
- October - December 2016
- July - September 2016
- April - June 2016
- January - March 2016
- October - December 2015
- July - September 2015
- April - June 2015
- January - March 2015
- October - December 2014
What our clients say about us