Payroll is the total of all payments made to and on behalf of employees, and it is essential to businesses. The fundamental goal of payroll processing is to guarantee that employees get all their financial rights on schedule.
‘A happy worker is a productive worker,’ as the adage goes. Being paid accurately and on time is one of the things that will make your employees happy. Stealth Accountants’ bookkeepers are qualified to deliver high-quality payroll processing services. To the joy of your employees, our payroll management services can ensure that your salaries are proper.
- General Payroll – ensure your staff is paid the correct rates and paid according to the correct hours worked.
- PAYG Withholdings –The Australian Tax Commissioner has for many years authorized foreign employers to vary to nil the Pay-As-You-Go (PAYG) withholding obligations in respect of salary or wages paid from a foreign payroll to assignees working in Australia. The Australian PAYG withholding rules give the Commissioner discretion to reduce the prescribed amount of PAYG withholdings which ordinarily apply to the salary or wages of employees working in Australia. Any business that has employees or pays employees of another company must withhold an amount from payments made to them. Any payments made to a company that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments. Under the Pay, as you go (PAYG) withholding rules, you have an obligation to collect tax from payments you make to employees and some businesses so they can meet their end-of-year tax liabilities. You’ll have withholding obligations if any of the following apply:
- You have employees.
- You have other workers, such as contractors, and you enter into voluntary agreements to withhold amounts from your payments to them.
- You pay businesses that don’t quote their Australian business number (ABN).
You must apply to register for PAYG withholding before you are first required to withhold an amount from a payment.As an employer, you have other legal obligations, aside from tax and super. You must only employ legal workers – that is, Australian citizens, permanent residents and non-citizens with Australian visas that allow them to work. Here Stealth can help you to get out of a solution and advice you the best in PAYG.
- Entitlements – leave calculation including holiday, personal, extended service, and roster days off.
- Payroll Tax, Workers’ Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
- Efficient and Electronic systems should simplify all processing and provide greater security for you and your staff.