Tag: payroll

Single Touch Payroll

What do you know about single touch payroll?One touch payroll

Single touch payroll is basically a new feature.  Software companies are now working on adopting this new feature.  This will enable you to provide a report to the ATO every time you process payroll.

This just reports to the ATO on a more regular basis the following:
•  What your PAYG  liabilities are;
•  What your superannuation liabilities are; and
•  Your staff wages.

The ATO can reconcile this with your end of financial year payment summaries that you already send them.  You also have the opportunity to pay these liabilities at the time they occur. Although you can still pay at the same schedule you’re currently paying them.

Your systems are vital to ensure you comply.  You must give a pretty good reason why you cannot comply.  Technology is being thrust upon you.  So if you’re not digitally recording your accounts, maybe you should start.  If you have 20 or more employees as at 1 April 2018, you must use single touch payroll from 1 July 2018.

Think you’re off the hook?

Think again!  Dependent upon legislation being passed, if you have 19 or less employees, you will be required to use single touch payroll from 1 July 2019.

In  conclusion, you will be required to either adopt an accounting package to your business, or make sure the one you’re using is going to meet the new regulations.

Need help?

Happy to discuss how Aliantha Office Solutions can assist in keeping you up to date and informed on which packages are right for you.  Here’s the link to the ATO website outlining the changes.

Plug

Xero are working extensively with the ATO in meeting these new regulations. They currently have a special with 50% off for four months.  But you need to be quick. The offer expires on 22nd of December 2017.  Call to see how you can take up this fantastic offer!

Payroll and employees

Cut the red tape

Trying to comply with regulations relating to payroll and employees can sometimes be a daunting experience.

There’s some simple steps to ensure you meet all of your legal obligations when faced with employing staff.  Follow these steps and you can’t go wrong:

Check the Award

The Fair Work website has an A-Z list of all awards.  Choose the award that best suits your employee’s duties.  For example, you may be a manufacturing firm, and have just employed a office clerk.  Their duties would not be manufacturing, but clerical.  This person would be covered under the Clerks Private Sector Award.

The award will outline minimum wages and conditions associated with that employee.  Ensure you check their age, level of experience and the duties they will be performing.  Check any additional entitlements for overtime, travel, meals etc.

Check the NES (National Employment Standards)

All staff are covered by the NES.  The NES outlines 10 minimum employment entitlements that must be provided to all employees.  The NES entitlements relate to maximum weekly hours, flexible working arrangements, leave, termination and the Fair Work Information Statement (which must be provided to all employees when they start working with you).

Employee start day

When your employee starts with you, you may wish to set up an agreement outlining their duties, performance requirements, authority levels, wages and entitlements.  This is something that will ensure both the employer and the employee start from day 1 with the same expectations.

Documents you should provide the employee with:

– Tax File Number Declaration
– Fair Work Information Statement
– Superannuation Guarantee form
– Relevant award or agreement
– New employee form (in-house document for recording bank details, emergency contacts etc).

Occupational Health and Safety

Don’t forget about your OHS obligations also, induct the new person into the office, showing exits, bathrooms, fire extinguishers, first aid kits and introduce the other staff.

So are you ready?

You will need all of this information prior to being able to pay the employee.  Ensure you set them up in your accounting software correctly apportioning entitlements and leave.

If you’re unsure of any of these steps, check with Fair Work.

Aliantha Office Solutions can assist you with all of these requirements.