Modern Awards: The Impact on Payroll
Modern awards set out the minimum terms and conditions of employment on top of the National Employment Standards (NES). They provide entitlements such as rates of pay, hours of work, allowances, penalty rates and overtime. As such it is critical for HR and Payroll managers to be aware of any changes to modern awards that […]
Legislative Changes that affect Payroll in 2018/2019
The new financial year is upon us, and for many businesses that will mean making changes to their payroll as a result of legislation coming into force on 1 July 2018. Keeping track of any changes to payroll legislation and remaining compliant can be a headache – although at E-Payoffice our cloud payroll software and […]
Single Touch Payroll – Are You Ready?
Are you ready for Single Touch Payroll – 1 July 2018? Single Touch Payroll is the single biggest move toward payroll centralisation since PAYG was introduced in 2000 and one of the most significant changes to the way in which payroll is processed that we have seen. It involves streamlined reporting for salaries, wages, PAYG […]
Why Your Business Cannot Afford to Hire an Untrained Payroll Person a Few Days a Week
As a small to medium sized business owner, we understand that cash flow can be a concern and payday seems to roll around a lot sooner each pay cycle. However, cutting corners by hiring the wrong person to look after your payroll can cost you more than your reputation: it can close your doors forever. […]
How New Fair Work Australia Provisions Affect Your Business
Wage disputes between workers and management often make the news. In 2016, some of Australia’s most well known retail and fast-food brands were found to underpay workers. Companies owed workers more than $300 million dollars annually due to unfair agreements regarding weekend and penalty rates. Two years ago, Fair Work staff raided 7-Eleven stores across Melbourne, Sydney […]
The Evolution of Payroll Software
The Old Days Remember those days when you sat behind a desk with an electronic calculator; adding up Bundy cards, breaking hours down into different pay elements, keying them into payroll and finally getting a result hours later? You were still not done after this. There were printouts to take to management for approval, the […]
What is Single Touch Payroll (STP)?
What is Single Touch Payroll (STP) and how will it affect my business? According to the ATO, Single Touch Payroll is a reporting scheme that aims to introduce transparency in payroll reporting to ensure employers are meeting their obligations. This government initiative has been the single biggest move toward payroll centralisation since PAYG was introduced […]
Legislative Changes that affect Payroll 2017/18
Backpacker Tax
From 1 January 2017 new tax rules apply for working holiday makers on visa subclass 417 (Working Holiday) or 462 (Work and Holiday). You can check if your employees visa subclass is 417 or 462 using the Visa Entitlement Verification Online service (VEVO). The Change to Tax is as follows:The first $37,000 will be taxed at […]
Increase in the Minimum Wage 2016
The Fair Work Commission has announced a 2.4% increase to minimum wages. The increase will apply from the first full pay period starting on or after 1 July 2016. The new national minimum wage will be $672.70 per week or $17.70 per hour – this is the rate that Parental Leave Payments are based on.
