Phase 2 of STP is ramping up for a 01 January 2022 start. The requirements will require substantial additional work from us to get your business compliant. Here is the current factsheet
All types of payments will need to split in the pay runs. We do this now but it will be even more comprehensive (It will be even easier for Fairwork to
see if you are not paying overtime and allowances correctly).
Listed separately will be ■ bonuses and commissions ■ directors fees ■ paid leave ■ salary sacrifice ■ overtime ■ allowances ■ gross (other).
Salary sacrifice contributions will no longer be used to reduce ordinary time earnings.
Employment types will be more defined.
Employer separation certificates for Centrelink will no longer be required. You will be required to enter a cessation type in software.
Tax File Declarations will no longer need to be sent into the ATO but you are still required to have them signed and keep them - when STP2 starts.