Coinciding with the new Single Touch Payroll (STP) rules, there will also be new rules introduced on 1 July 2019 that will deny the deduction for any wages paid where no tax was withheld. This includes salary, wages, bonuses, allowances, director fees, labour hire agreements and payments to contractors that haven’t provided their ABN.

For further information or advice, please contact Silver & Young Chartered Accountants on 1300 621 884 or by emailing info@silveryoung.com.au.