Australia has one of the most complex payroll systems in the world, so it’s no surprise that we continually see and hear of businesses getting it wrong. Between payroll tax, STP, Modern Awards and other payroll jargon, it can be confusing to know if you’re paying your employees correctly.
Whether you employ one person, or one hundred people, the same rule applies to all businesses when it comes to payroll – be compliant or face strict penalties. However, when you’re a small or medium-sized business, you most likely don’t have the luxury of having in-house or external professionals helping you manage your payroll function. So, how can you ensure you’re doing the right thing?
This guide covers everything you need to when it comes to paying your staff correctly:
- What is payroll and how does it work?
- How does payroll tax work in Australia?
- When can non-compliance occur?
- Important things to consider when paying your staff
The information provided in this guide is general in nature and is not intended to substitute professional advice. If you are unsure about how this information applies to your situation, we recommend you contact Employment Innovations for specific advice for your business needs.