Migrating to STP Phase 2

Chet

Hi Rav,

I've read the articles and watched the video on STP Phase 2 migration.

Just a question, before i embark on migration that i was hoping you can answer.

Do we need to ask all our employees how many dependants they have and what their Medicare levy surcharge tier is?

Is there any other info we need about our employees that we need to gather before migrate to STP Phase 2?

Rav

Hi @Chet

You only need to complete the Number of Dependents field if you have an employee subject to the Medicare Levy Reduction.

I'll add some info below on both the Medicare Levy Reduction and the Medicare Levy Surcharge -

https://help.reckon.com/article/xkx7uw0xev-medicare-levy-reduction

https://help.reckon.com/article/mdz169r4nd-medicare-levy-surcharge

Chet

Thank you Rav, i'll have a further read of this.

Acctd4

@Chet Only if the employee selected this on their TFN Declaration (Most employees don’t know what this actually is so I’m yet to see it myself 😬)

Chet

Ha, thanks Shaz.

Glad i'm not the only one in the dark. I looked up an employee's tax file declaration and this isn't even asked, so i was kinda caught off guard by this new requirement.