STP Phase 2: With great power comes great responsibility

As detailed by Hayley Lock and Kevin Ferdinands, the evolution of Single Touch Payroll (STP) sends a clear message that employers must meet their employment tax and superannuation obligations.

Single Touch Payroll (STP) has been considered by many a great success, winning a public sector innovation award and recently functioning as the core technology in the delivery of the largest financial lifeline package in Australia’s history – the JobKeeper payment.However, like all good innovations, continuous improvement is key to elevating a solution to its full potential.The 2019-20 Federal Budget signalled the introduction of STP Phase 2 (STP 2), with the Government announcing additional...

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Authors: Hayley Lock, Kevin Ferdinands

Published Date: 27 October 2020