STP Phase 2: Penalties for non-compliance
As with any government-mandated process of compliance, penalties are always a prospect, yet never the primary intention. Compliance is the intent, not punishment. The start date for STP Phase 2 is 1 January 2022, so if for some reason you’re not using an STP compliant payroll solution you will need to be ready by then.
It remains unforeseeable how lenient the ATO will be with this phase. We have seen through the previous Phase 1 that, while there was a fair amount of flexibility, there remains the prospect of fines and punitive measures. Having said this, if your current payroll solution is compliant, you’ll have little to be concerned about.