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endtop's avatar
endtop
Experienced User
3 years ago
Solved

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

  • Yanike_S's avatar
    Yanike_S
    3 years ago

    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

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  • Yanike_S's avatar
    Yanike_S
    MYOB Moderator
    3 years ago

    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