Single Touch Reporting Phase 2
Get ready for STP Phase 2 in Xero The next stage of the Single Touch Payroll (STP) journey is coming soon in Xero. STP Phase 2 will see Australian businesses build on their existing reporting to share more information each pay run. When will STP Phase 2 reporting be available in Xero? The rollout will […]
Single Touch Payroll changes
There have been changes to Single Touch Payroll (STP) Employers are required to report additional payroll information now or once your payroll product is ready. You need to start reporting additional information on or before each pay day — this is known as STP Phase 2. STP Phase 2 started on 1 January 2022 Some […]
2022/23 Federal Budget
Federal Budget Highlights In this summary: Personal income tax changes (please scroll down) Changes affecting business taxpayers Other Budget announcements 1. Personal income tax changes 1.1 Increase to low and middle income tax offset (‘LMITO’) The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year, which will be […]
Payroll matters February 2022
Higher PAYG withholding rates continue to apply to backpackers As we recently communicated, the High Court has held that the ‘working holiday maker tax’ (also known as the ‘backpackers tax’) did not apply to a taxpayer on a working holiday visa from The United Kingdom who was also an Australian tax resident. This was due […]
COVID-19 vaccination incentives and rewards
FBT consequences of providing non-cash benefits The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination. When employees are provided a cash payment, including paid leave for employees to get their COVID-19 vaccination (or additional paid leave to recover from […]
ATO support for employers with expansion of STP
STP Phase 2 As part of the expansion of Single Touch Payroll (known as STP Phase 2), from 1 January 2022, employers will need to report additional payroll information in their STP reports including: disaggregation of gross amounts (including separate reporting of paid leave, allowances, overtime, directors’ fees and salary sacrifice amounts); employment and taxation […]
Single Touch Payroll (STP) Phase 2 reporting
Learn what STP Phase 2 means for you Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022. If you employ staff, you’ll need to be ready for this change. New guidelines that explain the changes are now available to help. STP Phase 2 reporting means changes to the way you report amounts paid to […]
STP reporting changes from July
Changes to STP reporting from 1 July 2021 Employers should have already been reporting through Single Touch Payroll (‘STP’) unless they only have closely held payees, or they are covered by a deferral or exemption. From 1 July 2021, there have been changes to STP reporting for small employers with closely held payees and quarterly […]
JobMaker Hiring Credit – eligible additional employees
JobMaker employee eligibility criteria How to report eligible additional employees through Single Touch Payroll-enabled payroll software Employees are eligible if they: have received income support payments, including the JobSeeker Payment, Youth Allowance (other than on the basis that the individual was undertaking full-time study or was a new apprentice) or Parenting Payment for at least […]
STP data-sharing with Services Australia
Single Touch Payroll (STP) allows the ATO to share data in real-time with other government agencies The purpose is to “help them deliver government services to the Australian community”. As part of the ATO’s data-matching program, it has a STP data-sharing arrangement with Services Australia to help them administer Australia’s welfare system. This means that […]
