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What is Xero doing to help us with STP 2? Xero is working closely with the ATO to roll out these Phase 2 changes. The Xero roll-out is in three stages, here is an overview STP 2 changes :. Stage one has begun already. This includes updates to the way new employee records are set up in payroll, ensuring STP Phase 2 compliance. Termination reason is now entered when processing a final pay.
This removes the need for an employment separation certificate to be issued. Other changes made already include new payment types that toudh capture the more detailed payroll information needed for STP 2. These are:. Also coming soon — new employee set-up. These include new fields for STP 2 compliance. Watch the videos — xero single touch payroll video up new employees and contractors. Stage two xero single touch payroll video Xero will begin rolling out mid-year This will extend the set-up process to enable the transition of existing employee payroll records to STP 2 compliance.
Benkorp will endeavour to keep you informed as soon as we xero single touch payroll video more information. Stage payfoll will be available in the xero single touch payroll video half of this year. It will see the new pay eingle from STP 2 finalised in Xero, with product support to review existing pay items that may need to be changed to those stipulated by STP 2. Get familiar with the new pay items and other additions that are available within Xero now.
Xero will provide support in Xero, educational webinars and guides to help us adjust to each stage. Benkorp will endeavour to keep you informed as soon as we receive more information — by emails and blogs as appropriate. To discuss your xero single touch payroll video, especially if this all seems overwhelming, and you would like understand the options for support please Book a meeting. Your email address will not be published. The Xero roll-out is in three stages, here is an overview STP 2 changes : Stage one has begun already.
These are: Bonuses and commissions : Previously they were reported as part of gross payments, but for STP Phase 2 will be reported separately. Lump sum W return to work payments: A return to work amount is paid to induce an employee to resume work xeo previously this was reported as a gross sum. Lump sum E payments: This is used when you make lump sum payments for back pay from prior income years and is now done via STP instead app windows 11 - netflix app downloaden windows a letter.
New allowance types: Under STP Phase 2 reporting, allowances for task, tools or qualifications need to be reported under new labels.
For example, for a new employee: toudh whether the new team member is an employee or contractor. What can I do now? How can I find more information? Submit a Comment Cancel reply Your email address will not be published. Посетить страницу источник for:. This field is for validation purposes and should be left unchanged.
Xero single touch payroll video
Single touch payroll is a recent regulation that changed when and how small businesses report payroll activity to the Australian Tax Office ATO. Businesses used to report this information to the ATO once a year. Now, they send a report after each payday. And those reports must be submitted digitally, using a very specific format. Small businesses used to finalise their payroll records at the end of the financial year and produce:. With STP, the payment summary annual report and the payment summary have gone away.
Your employees can see the information that used to be on their payment summary by logging on to myGov. There are no more paper forms for reporting your payroll activity to the ATO.
Employers with 1—4 employees are eligible to use the no-cost or low-cost solutions the ATO have asked software developers to build. You need to make sure you can submit compliant reports every payday. Disclaimer: Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the provided content.
Access all Xero features for 30 days, then decide which plan best suits your business. Guides Single touch payroll. Summary of single touch payroll. When you report payroll. No more payment summary annual reports. No more employee payment summaries, either. You need to report payroll online. How to comply with single touch payroll. If you use online payroll software, it should be able to handle the job. Just make sure it produces ATO-compliant reports.
If you use spreadsheets or pen and paper, you need to find a service to convert the data into a compliant digital report format and submit it on your behalf.
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