We are pleased to announce we have released Single Touch Payroll phase 2 well ahead of the government reporting deadline. Whether you're using GovReports STP Phase 2 or the I AM STP Reporting module, both products still provide all the functions you know and love, including the option to upload CSV files, rollover of pay runs, update events, and end-of-year finalization. Learn More About STP Phase 2
If you missed our blog, catch up with all the changes at GovReports Upgrade – Single Touch Payroll Phase 2.
The ATO Single Touch Payroll Phase 2 includes more reporting categories and detailed payroll information. This allows employers to report to multiple government agencies via STP using standardised categories, making it easier for employees and ensuring the accuracy of the data provided to the agencies.
We’ve also updated the CSV import template to meet V2 reporting specifications. When you upgrade to V2, you’ll need to use the new template if you import data from CSV files.
View or download the import specification document for more details.
What do You Need to do?
There’s no reason not to upgrade to STP V2 straight away; however, if you prefer, you can stay on V1 until it becomes mandatory to move to V2 by 1 March 2022. If the ATO extends the compulsory reporting date, we’ll let you know.
Once you upgrade to V2 in GovReports, you can’t go back, but we don’t think you’ll want to! We have created in-depth user guides for Single Touch Payroll V2 for agents and IAM STP users to help you swap to V2 and navigate the new reporting.
When the ATO mandatory Phase 2 reporting date arrives, we’ll have to turn on V2 whether you like it or not! Convert to STP V2 now so you can manage the transition over the next few months. Check out the user guides to learn how to opt-in to STP V2.
Whether you’re using GovReports STP V2 or IAM STP Reporting Module, both products still provide all the functions you know and love, including the option to upload CSV files, rollover of pay runs, update events and end of year finalisation.
Talk to us if you’d like to learn more about transitioning to the new reporting system for your business and get started today.
