Vicki's Blog

Single Touch Payroll (STP) phase 2, is the hottest topic in the bookkeeping world right now. Below is information straight from the ATO Website. For bookkeepers, this equates to a whole lot of “riveting” webinars.

Disaggregation of gross

In STP Phase 1, the gross amount you reported contained different types of amounts depending on the particular income type. This approach has changed in STP Phase 2 and all payment types are now reported consistently for each income type.

Instead of reporting a single gross amount, you will now separately report:

• gross

• paid leave

• allowances

• overtime

• bonuses and commissions

• directors’ fees

• lump sum W

• salary sacrifice

For years now, the ATO has held you solely responsible to be compliant in all things “business.” Gone are the days when you could say “I didn’t know that”. With modern technology, the onus is on you, the business owner, to keep up to date and be compliant.

Darling Downs Bookkeeping Company

ABN 41 894 025 630

BAS Agent No 25971058

Level 1, 16 Prescott Street

Toowoomba Qld 4350

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