WebSingle Touch Payroll Phase 2 (STP2) is an expansion of the initial Single Touch Payroll (STP1) program. The ATO is expanding the current reporting system to include more information about employers and employees which will help with the administration of reporting multiple government agencies and social security information. 2. Anita earns $100,000 and sacrifices $5,000 into super and $20,000 to a novated lease. In STP Phase 1 you reported the post-sacrificed income of $75,000. In STP Phase 2 you are required to report the pre-sacrificed income as well as the amount of salary sacrifice. This is how you should report this in STP … See more Each amount you pay to an employee will now be assigned to an income type, and you can report amounts assigned to multiple income types throughout the year. The reporting of … See more In Phase 1 reporting, some allowances are reported separately, and some are reported as part of Gross. This has changed for STP Phase 2. There are 3 steps you should follow to work out how to report allowances … See more In STP Phase 1, the gross amount you reported contained different types of amounts depending on the income type. This approach has changed in STP Phase 2, all payment types are now reported consistently … See more Sometimes there may have been an oversight or delay and you need to make a back payment to an employee. As back payments are not a single type of payment, there is no … See more
NOVATED LEASE PROCEDURE
WebPhase two will make it easier for employers to report specific payment details made to employees across all income streams. A. Gross Income, a breakdown which includes: o Gross residual (excluding below) o Salary Sacrifice (including Salary Sacrifice Super & other Salary Sacrifice) o Bonus & Commissions. o Overtime. WebLearn how to add an employee with the new Single Touch Payroll Phase 2 employee set up.Xero is beautiful accounting software for small businesses and their a... sighting targets zero to 25 yards for ar 15
Providing Cars to Employees: Tips and Tricks
WebDec 10, 2024 · STP phase 2 aims to streamline the reporting obligations for the payer and payee and remove the need for manual reporting to other government agencies. Phase 2 is about establishing an "all inclusive" baseline dataset that incorporates reporting requirements for multiple government agencies. With this, phase 2 will bring more … WebEmployee details. Click the employee's name. Make the required changes. Details of what needs updating will be shown at the top of the screen. Click Save. After updating and saving the employee's details, click the link at the top of the screen to continue preparing for STP Phase 2. Employee income type. WebMar 3, 2024 · STP Phase 2 can reduce the number of duplicate information employers provide to the Government. It removes the need to send the tax file number declaration to the ATO. When STP Phase 2 comes into effect, this information will be captured within the STP pay event, which means you have met the obligations to send the TFND details to the … sighting technique in art