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The employer must:
- Register with the ATO as an employer (PAYG registration)
- Withhold appropriate PAYG from employees pays
- Choose a "My Super Default" superannuation fund for the business
- Forms to be supplied to employee:
- Taxes, superannuation, and other deductions must be forwarded by the stipulated dates to the appropriate agency
- Record keeping – FWO is 7 years after termination; ATO is 5 yearsContent
Employment Workplace Policy
The workplace policy is designed to provide payroll staff direction of the business rules and regulations for staff and guidance in operations and staff management. Also, this policy is to enable staff to promptly find answers to payroll issues regarding employment entitlements, rates of pay, leave and conditions for the workplace.
The policy includes:
- Roles and responsibilities of the employee
- Employee contracts and Fair Work NES standards
- Payroll processes
- Payroll administrator tasks
- HR Expert assigned for the business
- Payroll business guidelines
- New staff guidelines
- Human Resource person/intermediary issues and notes (if applicable)
Payroll Record Keeping
Employers are required to keep time and wages records for 7 years after termination. The records kept must be: legible, readily accessible to a Fair Work Inspector and in English
The records cannot be changed unless it is to correct an error or false or misleading.
Record Keeping Documents:
- Job Classifications – Awards and Agreements Pay and entitlements
- Employer tax obligations
- Payroll Tax Recordkeeping
- Workplace health and safety training
- Trade union membership
Workers’ Compensation/Workcover is an insurance paid by employers to cover:
- Directors (working and non-working)
- Subcontractors, if deemed to be a worker.
The rules and regulations of Workers Compensation are different in each state.
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