It will soon be a New Year with a raft of new rules to assess for your compliance, including the big ticket item of Single Touch Payroll Phase 2 (STP2)!
Child Support Protected Earnings Amount: from 1 January 2022 the new weekly rate for the Child Support Protected Earnings Amount (the part of an employee’s or contractor’s wages that are exempt from child support deductions), will be $429.98.
Mental health and wellbeing levy (payroll tax surcharge) in Victoria: The expected start date for the payroll tax surcharge on wages paid in Victoria by businesses with national payrolls over $10 million a year, which has now passed into law, is expected to be 1 January 2022. The surcharge is being used to fund mental health and wellbeing support services.
End of minimum salary or wages threshold for SG: from 1 July 2022, pending the legislation passing parliament, the Government is intending to remove the existing $450 per month minimum salary or wages threshold, which resulted in low income employees not receiving any superannuation guarantee support.
Get ready for STP Phase 2
Aurion has received our official whitelisting status from the ATO for STP2. The ATO have also granted us a deferral until 30 September 2022 to give Aurion customers additional time to transition to STP Phase 2.
Everything our customers need to know about STP Phase 2 is ready at our STP Phase 2 Resources portal (logged in users only). You can register for your free STP2 Blueprint session with our team, who’ll explain the STP2 configuration needed to ensure payments are mapped correctly for ATO reporting.
Anyone is invited to watch our free Aurion webinar: What you need to know about STP Phase 2 & Payroll Compliance.
A reminder that the ATO have published an STP Phase 2 Factsheet and Employer Reporting Guidelines summarising key changes introduced in STP 2. They’ve also released this informative webinar recording.
Best wishes for the New Year and a fully compliant 2022 from Aurion!
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