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Single Touch Payroll (STP) is a simple way to report your employees’ payroll information to the ATO and keep your business compliant. It’s included with your MYOB subscription, so there's no additional charges.
Once you're set up, you'll send your employees' salary, tax and super info to the ATO after each pay. This means end-of-year reporting is a breeze and your employees can access their up to date payroll information through the ATO's online service, MyGov.
STP Phase 1 and Phase 2
The ATO first introduced STP in July 2018. In January 2022 they expanded STP to include some additional information in your STP reporting. They called this expansion STP Phase 2. Learn more on the ATO website.
Now you're using STP, end-of-year is much easier. Instead of payment summaries, you just need to confirm that the payroll information you've sent to the ATO is final and correct. You can also enter reportable fringe benefits amounts (RFBA) at this step.
Once you've finalised your STP information, your employees will be able to complete their tax returns in MyGov.