From 1 January 2022, when you report your payroll information via Single Touch Payroll (STP), you'll provide some extra information.
Your software provider will update your STP-enabled software for you. There's nothing you need to do immediately.
The Australian Taxation Office will give more information on the reporting requirements later in the year. This will include a detailed guide to step you through any changes.
The Australian Taxation Office is doing this to reduce duplication of information you provide to government. They are also expanding the range of information they share with other government agencies such as Services Australia.
If you don't yet report through STP you should start now.
If you have closely held payees you don't need to start to report through STP for those payees until 1 July 2021, all other employers should be reported through STP now.
If you have any questions about this, please do not hesitate to contact us.