The Australian Tax Office (ATO) has introduced Single Touch Payroll (STP) to streamline the reporting of tax and superannuation information. The ATO is introducing phase 2 of STP reporting in 2021.
Oracle believes that STP Phase 2 will be a major change for our customers. The structure of the STP file is changing and there are will be a number of tasks customers will need to do to meet these changes. Oracle is currently reviewing all the changes and will update customers with more information soon.
The ATO has announced a mandatory 'go live' date for STP Phase 2 of 1 July 2021 which Oracle and other software companies and third parties believe is unrealistic considering most documentation from the ATO was only released in the last couple of weeks. The current 'go live' date is open for comment and Oracle plans to communicate to the ATO the need for this date to be reviewed. Oracle will keep customers updated on this process and any results from our communication.