Prior to employing staff or taking on contract staff on a recurring basis you should familiarise yourself with all the obligations you face as an employer.
The summary below and associated links are here to give you a high level overview of what is required. FinServCo has extensive experience in helping small businesses grow so feel free to get in touch with any questions.
Legal obligations as an Employer
As an employer you are legally obligated to:
- pay correct wages
- reimbursing your employees for work-related expenses
- ensuring a safe working environment.
- not acting in a way that may seriously damage an employee's reputation or cause mental distress or humiliation
- not acting in a way that damages the trust and confidence necessary for an employment relationship
- not providing a false or misleading reference
- forwarding PAYE tax installments to the Tax Office
- making appropriate payment under the Superannuation Guarantee legislation.
read more on workplace website..
Recordkeeping for Employers
An employer is responsible for:
- Employment records. If you employ people under a federal award or agreement you are legally required to keep accurate and complete time and wages records and issue pay slips to each employee. You must keep all time and wages records of each employee for at least seven years. These records should be in plain English and easy to read.
- Taxation records. Under tax law, if you are carrying on a business you must keep records that record and explain all transactions.
read more on records from the ATO...
Staff Health & Safety for Employers
Under OH&S legislation you are obliged to provide:
- safe premises
- safe machinery and materials
- safe systems of work
- information, instruction, training and supervision
- a suitable working environment and facilities.
read more on OH &S at business.gov.au...
Taxation obligations for Employers
- Determine the status of workers between employees and genuine contractors. read more
- Fringe Benefits Tax (FBT). If you provide a fringe benefit to an employee you are liable to pay tax on the taxable value of the benefit provided. read more
Superannuation obligations for Employers
Employers need to make quarterly super contributions on behalf of eligible employees to complying superannuation funds or retirement accounts. You need to give new employees a "choice of super fund" form within 28 days of employment or choose a fund for them if they have no preference. Employer nominated funds must offer a minimum level of life insurance. read more
Insurance
Relevant Client Services
- Manage your Payroll
- Determine your employees earn-
ings - Calculate and pay your super conti-
butions - Maintain Books & Records
