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Narellecables's avatar
Narellecables
Experienced Cover User
2 years ago
Solved

STP Phase 2

I recenlty changed from STP Phase 1 to STP Phase 2.

For the YE 30/6/2022 do I have to report as per STP Phase 2 requirements?

example 1. in STP Phase 1 when a bonus is paid it is included in Gross Wages; in STP Phase 2 when a bonus is paid it is 'not included in Gross Wages but shown as 'Bonus and Allowances.

example 2. in STP Phase 1 when annual leave, leave loading and paid personal leave is paid it is included in Gross Wages; in Phase 2 it is not shown in Gross Wages but shown as 'Other Paid Leave O'.

 

  • Narellecables's avatar
    Narellecables
    2 years ago

    Hi Tracey,

     

    Thank you for your reply.

     

    I have read over STP 2 information again and with your information I think I have a better understanding of payroll categories requirements when changing over from STP 1 to STP 2.

     

    Once again thank you for replying and information provided.

     

     

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    2 years ago

    Hi Narellecables 

     

    Thanks for your post. Once you've moved to STP Phase 2 you can't go back to Phase 1, this means that all STP reporting, including finalisation, will be Phase 2.

     

    YTD amounts are reported to the ATO through STP according to the ATO reporting category assigned to the payroll category. For example:

    • In STP Phase 1, if the Bonus payroll category was assigned the Gross Payments ATO reporting category it was included in the Gross Payments total in the STP reports.
    • In STP Phase 2, the Bonus payroll category is assigned the Bonuses and Commissions ATO reporting category so will be reported under Bonuses and Commissions, not included in Gross payments.

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

    • Narellecables's avatar
      Narellecables
      Experienced Cover User
      2 years ago

      Hi Tracey,

       

      Thank you for your reply.

       

      Just to claifiy I will now need to create new categories as per STP 2 requirements e.g. bonues & Allowances, Annual Leave taken,Leave Loading and report amounts paid to these new categories for the 2021/2022 FY?

      Even though I believe MYOB has till 1st January 2021 to do this?

       

      Just a note - I think it would have been much easier if MYOB advised users not to transfer/update to STP 2 until after the end of the June 2022 financial year.  This now creates a whole lot more work having to create the new categories and report in these new categories.

       

      Appreciate that you have replied.

       

       

       

       

      • Tracey_H's avatar
        Tracey_H
        Former Staff
        2 years ago

        Hi Narellecables 

         

        You don't need to create new payroll categories, you can select the Phase 2 ATO reporting category in the existing payroll category:

         

         

        If you have multiple Allowances that now need to be reported separately you will need to create new payroll categories for each Allowance.

         

        When to move to STP Phase 2 is deemed as accounting advice which we're not permitted to provide. 

         

        Please let me know if you need further help.

         

        If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.