Single Touch Payroll phase 2 is effective from 1st January 2022.
Payroll categories need to be mapped to the new STP2 categories so that the ATO reporting is complete and correct when processing payroll.
Both MYOB and XERO have ATO deferrals to implement STP2 in their payroll software until the end of 2022.
What is STP2?
STP Phase 2 is an expansion of the existing STP program to capture more information required by the ATO and other agencies such as Services Australia. This will reduce the compliance burden for employers and individuals.
Lakesview Business Solutions are MYOB and XERO certified to help you with STP2.