04 Nov 2021
The government has previously announced the expansion of Single Touch Payroll (STP) to include additional reporting information. This expansion is known as STP Phase 2. We are pleased to advise that CloudPayroll will be transitioning our clients to STP Phase 2 from April 2022.
Once you opt in to report via STP Phase 2 (when available) this means you no longer need to forward your employees’ tax file declarations to the ATO separately. However, you will still need to keep a signed copy of the declaration. This can be conveniently and easily stored in CloudPayroll by scanning a copy and adding it to the employees’ documents.
As part of STP Phase 2 additional information will be reported to Services Australia to enable them to more easily ensure their customers, some of whom may be your employees, receive the correct payments. This removes the requirement for you (and your employees) to provide employee information to multiple government agencies.
CloudPayroll has received a deferral (on behalf of our clients) from the Australian Taxation Office (ATO) until 31 May 2022 to complete this process. Once STP Phase 2 is available in CloudPayroll we will communicate with all clients via their Dashboard with further instructions on how to commence reporting to the ATO via STP Phase 2.
If you want to find out more, please contact CloudPayroll on firstname.lastname@example.org or phone 02 9042 2689.