STP Phase 2 has started! It began on 1st January 2022 and if you are ready and your software is ready, you can begin to report your payroll via this next stage of STP now!
If you aren’t ready, don’t worry, the ATO has provided a blanket deferral to the 1st March 2022. This means that if your software is ready now, you have until 01/03/22 to ensure you are organised and have updated your payroll data to enable a smooth transition to STP Phase 2 reporting.
But how do you know if your software is ready? Most providers would have contacted you by now to explain their plans, but in case you missed their emails, here is a summary of the main providers and whether or not they are ready now:
- QBO – ready now
- GovReports – ready now
- MYOB – has a deferral in place with the ATO until 01/01/2023
- Reckon – has a deferral in place with the ATO until 01/01/2023
- Xero – has a deferral in place with the ATO until 31/03/2023
- Saasu – will be ready by 1st March 2022
Note – if your software provider has a deferral as per the above list, then you, as an employer, are covered by that deferral.
In our next blog in this series, we take a look at the technical side of STP Phase 2 and what it means for your payroll.