Single Touch Payroll Getting You Down?

If you're a savvy employer, you’re no doubt aware of Single Touch Payroll Phase 2 reporting requirements. Single Touch Payroll (STP) has been an ATO reporting obligation for several years now, and the ATO has recently transitioned to STP2.

You'll probably also know that Single Touch Payroll was meant to simplify payroll reporting, but it has become an extra administrative task many employers need help with.

STP2 requires extra information to be reported with each pay event. Pay run information can be sent to multiple government agencies using standardised income and payroll components categorisation.

Reporting changes include multiple income types, lump-sum payments, itemised allowances, child support and the ability to lodge tax file number declarations within STP2 reporting. Termination payments also have a reason for ceasing employment.

Do You Grapple with Payroll Management and STP2?

If you find payroll is taking too much time and energy, consider handing over payroll administration to the MORE Xero Bookkeeping Payroll Expert team. We’d love to help with your payroll software processing and ensure your payroll data is accurate, so you have the confidence that your staff are being looked after. In addition, we oversee payroll for hundreds of employees, and our team of experienced BAS agents can confidently advise your business of its payroll obligations so you don’t have to stress about getting complex payroll right.

We often see employers who, with the best of intentions, make payroll errors that can be very costly when employees have been paid incorrectly. Having precise payroll records is essential not only for Fair Work compliance but for your financial reporting and comprehensive planning. Talk to us and stay ahead of the payroll traps!

MORE Xero Bookkeeping Payroll Experts Take the Stress Out of Payroll

Would you like to make payroll simple and stress-free? Hand over your payroll processing to More Bookkeeping, and you'll get hours of your time back so you can focus on what you're great at – and leave the complexity of payroll to us. You will be positive that your employees are being paid correctly and that your payroll costs are accurately reported.

Get in contact to learn more and simplify your payroll processing.

ATO – Single Touch Payroll Phase 2 employer reporting guidelines

Xero – Single Touch Payroll Phase 2