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DRAFT CONTENT - DO NOT DISTRIBUTE
Single Touch Payroll (STP) is how you send your payroll information to the ATO and it's been around since July 2018. The ATO is expanding STP to include additional information in your payroll reporting. They're calling this expansion STP Phase 2.
To learn more about this change, visit the ATO website. You can also register for the ATO's Single Touch Payroll Phase 2 Webinar Series.
What do I need to do?
Right now—nothing. Your current STP reporting won't change.
Before STP Phase 2 starts, you'll be prompted to fix anything in AccountRight that doesn't meet the ATO's new requirements. This will be similar to when you first set up STP.
What's MYOB doing?
We're updating AccountRight to ensure it meets the new STP requirements. In AccountRight 2021.5 we've added some fields to your employee cards and updated the ATO reporting categories. How do I keep AccountRight up to date?
But don't worry, you'll be guided through any required changes so you'll be ready to report under the new system. This means you'll have plenty of time to update any missing information before the deadline.
If you want to get a head start, take a look below at some of the changes we've made already.
What's NOT changing?
Don't let the new name worry you—there are many things that won't change under STP Phase 2, like:
- how and when you lodge your STP reports
- the types of payments you report
- your tax and super obligations
- end of year finalisation.
Want to get a head start?
If you don't like leaving things to the last minute, you (or your bookkeeper) can start updating some of the details in AccountRight required for STP Phase 2. This will reduce the stress of the transition by updating your information over the next few months.
Take a look below at the new fields we've added for your employees and the updated list of ATO reporting categories.
These details will be checked for you in your AccountRight company file before STP Phase 2 starts, and you'll be prompted to make any required changes. But there's no harm jumping in early to avoid a last minute rush.
Using AccountRight in a web browser?
We've also made the below changes in the browser, so you can get ready for STP Phase 2 no matter where you work. Take a look.
You'll find this via the Card File command centre > Cards List > Employee tab > click an employee > Payroll Details tab > Personal Details tab.
We've combined Employment Basis and Employment Status into a single field called Employment Basis.
Available options:
- Full time
- Part time
- Casual
- Labour hire
- Other (payroll information won't be reported to the ATO)
Once STP Phase 2 begins, we'll be adding Death Beneficiary to this list.
You'll find this via the Card File command centre > Cards List > Employee tab > click an employee > Payroll Details tab > Taxes tab.
We've added a new field called Income Type to:
- identify payments you make to employees with specific tax consequences
- make it easier for employees to complete their tax return
- help the ATO identify where you're using a concessional reporting arrangement
- identify the Country of origin for working holiday makers.
Available options:
- Salary and wages (this is the most common income type which you might also know as 'Individual non-business income')
- Closely held payee
- Working holiday maker (you'll also need to choose the employee's Country of Tax Residency)
- Seasonal worker program
- Labour hire
ATO reporting categories have been part of STP since the beginning. But the ATO has expanded the list of categories to better define the amounts paid to employees.
For example, the current ATO reporting category Gross payments is being split into more specific payment types, like overtime and bonuses. This is because some of these payments are treated differently for social security purposes, so they'll need to be reported in more detail.
The current ATO reporting categories assigned to your payroll categories will apply until STP Phase 2 begins. But you can start assigning the new ATO reporting categories in preparation for the change.
You'll find the new list of ATO reporting categories within your wage, deduction and superannuation payroll categories (Payroll command centre > Payroll Categories > click the applicable tab > click to open a payroll category).
Need help choosing?
Unfortunately we can't tell you which ATO reporting categories you should assign to your payroll categories—but your accounting advisor or the ATO can.
Learn more about assigning ATO reporting categories for Single Touch Payroll reporting.
Here's the list of ATO reporting categories for STP Phase 2.
| Wages and salary pay items | Deductions pay items | Superannuation pay items (no changes) |
|---|---|---|
Not reportable Gross payments Exempt foreign income Overtime Bonuses and commissions Director's fees CDEP payments Allowance - cents per km Allowance - award transport payment Allowance - travel and accommodation Allowance - overtime meals Allowance - laundry Allowance - tools Allowance - tasks Allowance - qualifications/certificates Allowance - other Lump Sum A - termination Limp Sum A - redundancy Lump Sum B Lump Sum D Lump Sum E Lump Sum W ETP taxable component ETP tax free component Cash out of leave in service Unused leave on termination Paid parental leave Workers' compensation leave Ancillary and defence leave Other paid leave | Not reportable Deduction - union/professional assoc. fees Deduction - work place giving Salary sacrifice - other employee benefits ETP - tax withholding | Not reportable Superannuation guarantee Reportable employer super contributions Salary sacrifice
|
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