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SINGLE TOUCH PAYROLL TO BE MANDATORY FOR SMALLER BUSINESSES

Saturday, 23 September 2017

Small businesses with 19 or fewer employees will be required to transition to ‘Single Touch Payroll’ by 1 July 2019, the Government has announced.

Previously the Government had announced a mandatory start-up date of 1 July 2018 for businesses with 20 or more employees but no mandatory date for smaller businesses.

The announcement of the changeover deadline for smaller businesses came as part of a package of measures announced by the Minister for Revenue and Financial Services Kelly O’Dwyer designed to increase compliance with Superannuation Guarantee payments. (For more details see article below.)

In the announcement the minister said that as part of the package “Employers with 20 or more employees will transition to STP from 1 July 2018 with smaller employers coming on board from 1 July 2019. This will reduce the regulatory burden on business and transform compliance by aligning payroll functions with regular reporting of taxation and superannuation obligations.”

 

Further information

Ministerial media release: Turnbull Government backs workers on superannuation

ATO: Streamlined reporting with Single Touch Payroll

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