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 to be costly for you and for your business.
Employers are to require 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. The lodgement of the Payroll report to ATO with a PAYG withholding payment summary annual report is compulsory, only then the year-end payroll process is complete.
Save time and effort. Kings Accounting offers a cost saving service which will ease the compliance burden for employer.
The Payroll service will cover;
• Timely pay runs (weekly, fortnightly, monthly)
• Maintaining leave records
• Pay slips
• Group certificates
• Workers Compensation
• PAYG registration for withholding obligation
• Assisting in maintaining timesheets
Kings Accounting can also do a conduct a setup 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, this is in order to make sure that you the meets the minimum compliance requirements (formulating contracts, to 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.