There are several upcoming changes to payroll management due to the upcoming rollout of Single Touch Payroll (STP) Phase 2.
The Australian Taxation Office (ATO) has announced that the way you need to report your payroll information is changing this year. BusinessHub is here to help you make the transition with our Hub of resources and how-to tips.
MYOB Acumatica Payroll users will need to transition to STP Phase 2 reporting by August 2022. To start STP Phase 2 reporting, you’ll need to enable STP Phase 2 reporting and then review/update your STP Phase 2 settings in between pay runs.
This is best done after you have familiarised yourself with the STP Phase 2 requirements and successfully submitted your last Pay Event under the current STP regime.
The 2021.1.4 release and above, of MYOB Acumatica supports the new STP Phase 2 reporting structure. We encourage you to upgrade and make the transition before the busy EOFY period.
MYOB Acumatica Payroll Release Notes
ATO STP2 Employer Reporting Guidelines
Visit our MYOB Acumatica EOFY blog for a recording of our EOFY webinar, as well as EOFY processing resources for both MYOB Acumatica and Payroll.
Book an STP Phase 2 Transition Session with BusinessHub for personalised remote support. This includes: Up to 30 minutes of remote support through your STP Transition. Excludes: Accounting and taxation advice.
Fee: $120 + GST
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This is a high-level checklist of the steps required to complete your STP Phase 2 transition using MYOB Acumatica Payroll. Refer to the Release Notes for the detail.
Looking for more details? If you’d like to find out more about how STP Phase 2 will affect your business, we’ll be running a series of webinars in the coming weeks to help guide you through the process. You can refer to the ATO’s employer reporting guidelines.
Keep an eye on our blog for updates on the latest on how the rollout stages are tracking. We’ll make sure you’re across what’s happening throughout the transition. In addition, subscribe to ‘The Hub’, our mailing list.