PAYROLL OBLIGATIONS
Employing staff has a number of legal requirements. If you run a business and intend to employ staff the following areas are important to inform yourself on.
PAYROLL TECHNOLOGY
Processing Payroll is more than just processing a payment - it is about calculating all the extra entitlements for employees and responsibilities for employers. Payroll technology makes this process simple & efficient.
PAYROLL COMPLIANCE
Insurances
Ensure you have adequate business insurance along with specific employee cover such as Workers Compensation & Liability Insurances.
Awards
Ensure you have read your industrial award and understand not only the remuneration section & pay guide but also the working conditions sections
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Pay Guide
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Entitlements
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Penalties
Superannuation
Employees are entitled to receive 9.5% superannuation contributions from their employer.
Record Keeping
Employers are required to keep clear, complete payroll records in a readily accessible format
Digital Timesheet
Collect employee time information via online applications rather than onerous paper based systems or sync via third party job management apps
Leave Management
Ensure you're on top of staff leave and entitlements with easy online leave forms and real-time leave entitlement records.
Superannuation Sync
Pay super with ease using Super-Stream and direct debit super options - no more manual super payments for small business
Simple ATO Reporting
Report Payday reports via STP directly to the ATO with a click of a button.
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Review and lodge IAS & BAS within Software
PAYG Withholding
Each pay you need to withhold taxes in line with the ATO issued tax tables.
At the end of your reporting period you pay these taxes to the ATO & lodge a Business Activity Statement to report total wages and taxes withheld
Single Touch Payroll
After each pay event you are required to send the full payroll data to the ATO online via Single Touch Payroll (STP) Reporting Templates.
This report outlines the total payroll costs along with taxes and superannuation payments required by the employer
Superannuation
Each pay you are required to set aside 9.5% of employee earnings toward super contributions. These payments are then required to be paid no less than quarterly to employee nominated funds.
Payslips
You are required by law to issue employees with a payslip outlining their payroll calculations and entitlements.