Gail Freeman.
Small-business owner Brittany was concerned when she got a letter from the Australian Taxation Office (ATO) about single touch payroll.
“What is it and what do I need to do about it?” she asked when she came to see me.
I explained that single touch payroll was the way that most businesses reported their payroll data to the ATO on a regular basis.
“Up until now, firstly large employers and then small employers have to provide details of the payroll for their arm’s-length employees.” I said.
“However, they have not had to report on their closely-held employees, which is people like yourself. Closely-held employees are either a director, a shareholder, a beneficiary of a trust or a family member.