STP Reporting Difference Phase 1& 2

Hi All,

 

For anyone who newly transitioned to STP2, I have hghlighted the key difference ;

 

Single-touch payroll reports for individual employees display the gross payments amount differently depending on whether the customer is using STP phase 1 or phase 2.

 

In STP Phase 1 the Gross payments amount is reduced by the salary sacrifice amount.

 

In STP Phase 2 the Gross payments amount is not reduced by the salary sacrifice amount.

 

STP Phase 1 example:

For example, the Employee was paid a total $87,600 and they salary sacrificed $10,000 then the Gross payments would show $77,600 and Reportable Employer Super Contributions (RESC) would show $10,000.

 

STP Phase 2 example:

For example, the employee was paid a total $87,600 and they salary sacrificed $10,000 then the Gross payments would show $87,600 and Salary sacrifice (RESC) would show $10,000.

 

 

Cheers

Priya Selvaraj