Paying employees at the government’s minimum wage rate
Issue: The minimum wage rate changes annually and varies depending on the employment type (full-time, part-time, or casual). Casual employment refers to workers who are not bound by a fixed schedule, such as those working in wedding catering or temporary event roles.
Solution: Our company frequently provides education and updates to business owners to ensure they comply with legal wage standards. The QBO system automatically updates the latest wage rates for most common industries, helping businesses stay compliant effortlessly.
PAYG Withholding Tax changes annually
Issue: Businesses that pay a fixed salary to their employees must adjust the amount withheld if the tax authorities require more or less to be deducted.
Solution: We ensure our clients are always informed and reminded to comply with tax requirements. QBO’s accounting software automatically calculates the correct withholding tax amount, ensuring accurate tax payments to employees.
Payroll on a weekly/bi-weekly basis
Issue: The process of compiling employees' work hours for payroll becomes tedious, as it involves verifying whether the reported hours are accurate or not.
Solution: QBO offers a feature allowing employees to clock in and out of work with GPS location data. The recorded data is uploaded directly to the system, enabling business owners to easily verify and aggregate work hours at the end of the week.
Heavy penalties for delayed superannuation payments
Issue: The Australian government imposes heavy penalties on employers who fail to pay superannuation contributions on time.
Solution: We consistently remind business owners to make their superannuation payments on time to avoid penalties. Additionally, QBO provides an automatic feature that deducts funds from the business’s bank account and transfers them to employees' super accounts, reducing the risk of late or insufficient payments.
Contact Gordon Q.C Du& Associates
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