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Update employee income types for STP Phase 2

by Intuit Updated 10 months ago

With STP Phase 2, a new requirement is reporting an income type for each payment made to an employee and, in some cases, a country code alongside that income type.

What are the changes?

To facilitate this change in STP Phase 2, the STP income types section has been added to the employee's Pay Run Defaults section. For applicable employees, ensure you have selected the correct income type here.

The income types available are:

  • Closely held employee
  • Foreign employment
  • Inbound assignee to Australia
  • Labour hire
  • Other specified payments

Note: existing employees already classified as closely held in the platform will not be required to be reconfigured. The closely held setting has been consolidated with other income type settings in the employee 'Pay Run Defaults' screen and the existing employee configuration will be retained when the new settings are made available.

What do I need to do?

For applicable employees:

  1. Select Employees, then select the employee's name.
  2. Select Pay Run Defaults from the left menu.
  3. Scroll to the bottom of the page and under the STP income types section, select an income type.
  4. Select Save once done.

I've updated my employees' income type, what's next?

Below are the changes that most businesses will need to make in preparation for STP Phase 2:

If any of the following apply to your business, make these changes as well:

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