single touch payroll
Hi, I have a quick questions Regarding Single touch payroll. i was a little confuse about how stp works!
After setting up STP phase 2 do we need to lodge our PAYG in MYGOV or we don't? or setting STP means loding your PAYG
thanks in advance
Hi endtop
Thanks for your post. Single Touch Payroll (STP) Phase 2 is an expansion of the ATO's payroll reporting system, and it started on 1 January 2022. Under this expansion, you'll report additional information to the ATO and clarify the payments you make to your employees. It means that your employees income, tax and super will be reported to the ATO in real time. If you use STP the ATO gets all the current information when you process payroll and your employee can view their salary, tax and super in their MyGov account.
Read more about STP here: What is Single Touch Payroll
Read more about STP 2 here: Getting ready for STP Phase 2
