You may recall from a previous newsletter that the Government had announced the introduction of Single Touch Payroll – where business accounting software (eg. MYOB, Xero etc) would automatically send payroll information to the ATO when employees were paid. This was meant to come into effect from 1 July 2016.
The Government recently announced that it will delay the implementation of this initiative and will undertake further consultation with the business community to ensure that any concerns are allayed before going ahead.
We will continue to provide further updates as they arise.