Most employers have now moved to STP Phase 2 reporting. There are some common mistakes being made and we want to share these with you to help you. These include:
Make sure you have setup your pay codes correctly, and that payments including allowances, paid leave and overtime are itemised separately
If you transition to STP Phase 2 reporting part-way through the financial year, check that you have maintained YTD amounts that has already been reported through STP Phase 1. This includes salary and wages paid to your employees, employment termination payments, pay as you go withholding amounts, and more
Employers need to report accurate information about their employees’ employment basis (such as full time, part time, or casual) each time you run your payroll.
The ATO provides a range of resources available to help you get your STP Phase 2 reporting right. These include an overview of common STP Phase 2 reporting questions and mistakes, featuring short, topic-based videos.
The information contained on this website and in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Taxation, legal and other matters referred to on this website and in this article are of a general nature only and are based on our interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.
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