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

  • Pay Guide

  • Entitlements

  • 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. 

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. 

Pilbara Accounting & Taxation Services Pty Ltd    |    ITP Accountants North West   

ABN: 71 161 102 950    |    Tax Agent Number : 24627922

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