Single Touch Payroll Phase 2
Single Touch Payroll “Phase 2” was formally introduced and rolled out by the ATO on the 1st January 2022. Since that time the ATO has granted blanked extensions to many accounting software packages while they updated their systems and packages to conform with the new payroll reporting requirements.
Xero has finalised its updates and rolled out the new settings in their software program, all payroll subscribers need to have updated their employee records, pay items, allowances, and leave categories by the 31st March 2023.
Xero have published a very comprehensive 8 page guide that will help you navigate the transition in your Xero file. Follow this link to download the guide.
However if you would rather poke your eyes out than update payroll settings don’t hesitate to contact our fantastic team at MKG Partners – we are ready and waiting to complete the transition quickly and efficiently.