TFN Declaration
Hi all,
I was just after some clarification on the TFN Declaration for employee onboarding.
I understand that STP Phase 2 reports directly to the ATO so the employer no longer needs to lodge the TFN Declaration.
My issue is specifically with whether or not the Tax Declaration the employee completes during their online onboarding is sufficient enough to satisfy the ATO record keeping requirements. The below was taken from the ATO website and says that the employee still needs to provide a completed TFN Declaration. Do I still need to have the employee fill out their section of the NAT 3092 Tax File Number Declaration or is the MYOB declaration sufficient?
Seems like a lot of double handling if it isn't.
Thanks :-)
Relationship between STP and the TFN declaration
STP Phase 2 doesn't change the way your employees give you information about their tax circumstances. Your employees should still give you a completed TFN declaration.