Single Touch Payroll (STP) reporting for closely held payees from 1st July

If your business is covered under the definition of a small employer, then you must read this article. Until now small employers were not required to report the amounts paid to closely held payees through Single Touch Payroll (STP). But this exemption is no more valid with effect from 1st July! This means that any amount paid by employers to closely held payees shall be reported through STP 1st July onwards. Let us discuss this in detail now.

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