Single Touch Payroll – How will that affect my Business?
Starting from the 1st of July 2018 employers with 20 or more employees will have new reporting obligations regarding payroll processes through Single Touch Payroll (STP).
Cryptocurrency – Now Under the AUSTRAC Scanner
As of the 3rd of April 2018, AUSTRAC (the government body in Australia which keeps a tab on money laundering and terror-related activities) has placed new rules governing cryptocurrency transactions to provide greater transparency for regulators. Now transactions involving cryptocurrency will need to be signed up and logged onto a new Digital Currency Exchange Register. AUS
TRAC requires that dealings above $10,000 be reported as per pre-existing rules for cash transactions and bank transfers.
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