There are some of the biggest changes to consider for your STP phase 2 reporting:
๐ฟ๐๐จ๐๐๐๐ง๐๐๐๐ฉ๐๐ค๐ฃ ๐ค๐ ๐๐ง๐ค๐จ๐จ โ By type of income, you reported different amounts in STP Phase 1, but instead of reporting a single gross amount, you now report separately the gross amount, paid leave, allowances, overtime, Bonuses and commissions, directorโs fees, lump sum W, salary sacrifice in STP phase 2.
๐๐๐ญ ๐๐๐ก๐ ๐ฃ๐ช๐ข๐๐๐ง ๐๐๐๐ก๐๐ง๐๐ฉ๐๐ค๐ฃ๐จ โ with STP phase 2, the employment and tax information you report through STP will be updated as your employees’ circumstances change. You do not need new TFN declarations from your existing employees to start reporting using STP phase 2.
๐๐๐ง๐ข๐๐ฃ๐๐ฉ๐๐ค๐ฃ ๐ง๐๐๐จ๐ค๐ฃ โ you can enter the reason for the termination while you are reporting STP phase 2 without an employee separation certificate as before.
๐พ๐๐๐ก๐ ๐จ๐ช๐ฅ๐ฅ๐ค๐ง๐ฉ โ this is optional but while reporting STP, you can include child support garnishees and deductions without separate remittance advice to the child support registrar.
๐๐ข๐ฅ๐ก๐ค๐ฎ๐ข๐๐ฃ๐ฉ ๐๐ฃ๐ ๐ฅ๐๐ฎ๐ข๐๐ฃ๐ฉ ๐ฉ๐ฎ๐ฅ๐๐จ โ with STP stage 2, you need to specify their employment type such as full-time, part-time, and casual, and assign each employee’s payment income type, such as wages and salaries, closely held wage earners, etc.
๐๐ช๐ข๐ฅ ๐จ๐ช๐ข ๐ ๐ฅ๐๐ฎ๐ข๐๐ฃ๐ฉ๐จ โ when you make Lump sum E payments, you no longer need to send letters to your employees.
๐๐๐ก๐๐ง๐ฎ ๐จ๐๐๐ง๐๐๐๐๐ โ you must enter the salary sacrifice amount while reporting to STP phase 2.
๐๐ฌ๐๐ฉ๐๐๐๐ฃ๐ ๐ฅ๐๐ฎ๐ง๐ค๐ก๐ก ๐จ๐ฎ๐จ๐ฉ๐๐ข โ When you change your business structure or software and cannot zero out or terminate previous records, with STP Phase 2 you can assign them previous Business Management Software IDs and payroll IDs to eliminate problems with duplicate income statements for employees.
๐พ๐ค๐ช๐ฃ๐ฉ๐ง๐ฎ ๐พ๐ค๐๐ โ when you pay an Australian resident working overseas, you must provide information about the host country. E.g., country code.
๐๐ค๐ฌ ๐ฉ๐ค ๐ง๐๐ฅ๐ค๐ง๐ฉ ๐๐๐ ๐ฅ๐๐๐จ๐ ๐ฎ ๐๐ค๐ง ๐๐ข๐ฅ๐ก๐ค๐ฎ๐๐๐จ.
You must provide details of the remuneration you pay.
ยท the type of income for the employee (such as salary and wages, or working holiday maker income)
ยท the amounts of the components (such as gross pay, paid leave, allowances, or overtime)
details of your PAYG withholding
ยท withheld amount from payments you make.
ยท Information about how you calculated the amount you are currently paying us by sending a copy of the employee’s TFN statement.
๐๐ค๐ฌ ๐ฉ๐ค ๐ง๐๐ฅ๐ค๐ง๐ฉ ๐๐๐ ๐ฅ๐๐๐จ๐ ๐ฎ ๐๐ค๐ง ๐๐๐ง๐๐๐ฉ๐ค๐ง๐จ – Directors’ fees may include payment to cover travel expenses, expenses associated with attending meetings, and other expenses incurred by the company director. Only pre-sacrifice cash classified as OTE should be included in directors’ fees.
