Insights

Single Touch Payroll and Closely Held Employees From 1 July 2021, all wages paid by any employer are required to be reported through Single Touch Payroll (STP) which includes payments to ‘closely held employees’, whi

The ATO has recently issued an alert warning taxpayers against disguising undeclared foreign income as gifts or loans from related overseas entities, including family and friends. It says it has continued to encounter si