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The ATO will grant a grace period of three- months for small businesses (less than 20 employees) to comply with the newly legislated extension of Single Touch Payroll (STP) regime to all businesses. On Tuesday legislation was passed requiring smaller employers (those with less than 20 employees) to commence reporting via STP from 1 July 2019. Recognising the limited time to the start date of 1 July 2019, it has just been announced that these smaller businesses will be allowed to start reporting any time between 1 July and 30 September 2019.
For more details on the new legislation and what it means for Bookkeepers and small business why not tune in to Bookkeeper Radio? We've got John Shepherd the Assistant Commissioner and Single Touch Payroll Program Lead with the TPB as our special guest to discuss the new legislation and what it means in great detail.