Single Touch Payroll (STP) Update

You will no doubt have seen a great deal of information recently regarding the roll-out of STP 2 by the ATO.  The official start date for this was 1 March 2022, however the ATO is granting extensions to this in most cases. In addition, certain software providers have applied for (and been granted) general deferrals for their subscribers.

Keypay have updated their software to correctly report for the STP 2 changes.  There are therefore no general extensions in place for their software.  If you use Keypay for your payroll reporting,  you will now need to update certain details for your employees, and should have received information from Keypay to assist with this.  Please contact us if you require assistance.

If you are using MYOBXero or Wagemaster for your payroll, you have until December 2022 to make the necessary changes to your employee information.  We recommend that you finalise the 2021/22 year-end prior to making any changes.  Again, if you have any questions or need assistance, please contact us.

The due date for finalising STP payroll data is 14 July 2022 for most employers.  Employers with a mixture of employees and closely held payees have until 30 September 2022 to make the declaration.

For more information on the Year-end Finalisation process please click here.