The next phase of STP is coming January 2022.
Here's what you need to know.
STP was first implemented to digitize and simplify reporting from Australian businesses to government departments.
With the launch of STP Phase 2, employers will now need to report additional information through STP on or before each payday. The ATO has announced that from 1 January 2022, phase 2 of STP reporting will be mandatory. At the moment, voluntary reporting is currently available and post 1st January 2022, there will be an option for deferral if you apply.
There are a lot of changes coming as part of STP Phase 2 and all the additional will be required.
You can find out more information in our free white paper.
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