Managing your payroll can be a time-consuming process. With so many moving parts and aspects to it- from salary, leave, tax and employee records, mistakes can occur. Inaccurate records could prove costly for you and for your business.
Employers are to required to comply with their obligations under the superannuation, PAYG Withholding and Fringe Benefits Tax regimes. If proper records are not maintained then heavy penalties may be imposed, as PAYG is a legal requirement. Finally, the lodgement of the Payroll report to ATO with a PAYG withholding payment summary annual report is compulsory For all Australian Employers at the end of every financial year.
Save time and effort. The Tax Factor offers a cost-saving payroll service which will ease the compliance burden for employer.
The Payroll service will cover:
STP Registration & Lodgements
Timely pay runs (weekly, fortnightly, monthly)
Maintaining Leave Records
Fringe Benefits Tax
PAYG Registration for Withholding Obligation
Assisting in Maintaining Timesheets
Industry Awards & Compliance
The Tax Factor can also help you set up and manage your superannuation obligations. With the introduction of the SuperStream by the ATO, we can assist you in this process. We also undertake a full check on your current payroll system and procedure, in order to make sure that you meet the minimum compliance requirements (formulating contracts, complying with award rates, penalty rates, leave pay, preparing notices and redundancy). We will also liaise on your behalf with Fair work commission, should there be any need.
Start the process today, call The Tax Factor on 1300 829 322 or complete our online form.