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Selloaccount1's avatar
Selloaccount1
Experienced User
2 years ago

Is ATO only looking at YTD STP information in FY24?

Hi guys,

 

I just got the job from a previous accountant. While I found that there are lodgement errors for some payroll when he did the STP lodge time to time, I can make sure that the STP YTD info is same as MYOB YTD info, and the MYOB YTD info is the geniune info. Am I good to go?

 

I got the confirm from this link

https://community.myob.com/t5/AccountRight-Payroll/Correcting-mistakes-with-Single-Touch-Payroll/td-p/523809#:~:text=The%20current%20STP%20service%20sends,declaring%20it%20to%20the%20ATO.

 

says: As the ATO would only look at the YTD information for the employee's pays, you just need to fix it up in MYOB to have the right YTD information before declaring it to the ATO.

 

But it was from 2018, so just want to comfirm it is still the case in FY2024?

 

Ray

2 Replies

  • gavin12345's avatar
    gavin12345
    Ultimate User
    2 years ago

    Hi Selloaccount1 

     

    Take a look here for some background about Pay Events and Update Events. This might give you some background to how STP works. The process has not changed much since 2018 except now you provide the ATO will a whole lot more info.

     

    Regards

    Gavin

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    2 years ago

    Hi Selloaccount1,

    Thanks for your detailed post. In addition to Gavin's suggestion, it's important to note that the Australian Taxation Office (ATO) also verifies the Year-to-Date (YTD) Verification report and the Payroll Register report to ensure their accuracy.. These reports are crucial for maintaining compliance with tax regulations and facilitating accurate payroll processing. 

    Feel free to post again, we're happy to help!

    Regards,
    Earl

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