Single touch payroll exemption for eligible employers

Single touch payroll exemption for directors and family members   The ATO has provided a concession from single touch payroll for payments by small employers to closely held payees. Single touch payroll (STP) was extended to cover all employers on 1 July 2019. For directors of their own company or for family businesses employing family…

New PAYG Withholding rules for Employers

Will your business be denied this tax deduction? Non-compliance with the new PAYG Withholding rules could cost your business thousands in income tax.   Are you a business owner with employees or contractors? You need to be aware that new PAYG withholding rules are now in place to deny tax deductions for salary and wages…

Single Touch Payroll for Employers. Are you ready?

Single Touch Payroll has now extended to all employers. Is your business ready?   For a couple of years now, there has been a great deal of talk about Single Touch Payroll (STP). Single Touch Payroll was introduced on 1st July 2018 for all businesses with 20 or more employees. However, the law was recently…

Coming Soon: Single Touch Payroll

Government figures indicate that Australian employers currently spend around $2.5 billion each year to meet their PAYG withholding obligations. To reduce the onerous administrative overhead costs spent on payroll and employee reporting, the Government has introduced Single Touch Payroll (STP) legislation. In a nutshell, STP will require employers to utilise Standard Business Reporting (SBR) enabled…