With Single Touch Payroll due to impose a new regulatory burden on small employers from 1/7/2019, the ATO have announced measures that could potentially reduce costs for businesses with between one and four employees.
There were previously three options for employers which we discussed in our article Mandatory Single Touch Payroll is coming for all employers - What do I need to do? Two of the options came at a significant cost for many small businesses and the other was potentially unreliable and time consuming. The good news is that the ATO have announced that small employers (1-4 employees) will have another option available to them to comply with Single Touch Payroll at a cost of less than $10 per month. We will need to wait and see what this option looks like but for now, if you are a small employer you don't need to rush into buying a full featured accounting software that may be excessive for your needs.