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Payroll |
Record Keeping and Payroll
There are new requirements in place in regards to employee recording keeping and payslips. You MUST issue a payslip within one day of payment and you MUST show certain items on the payslip. Click here to download the Australian Governments requirements as to what you MUST show, anything else is at the discretion of the employer.
You are also legally required to keep accurate and complete time and wages records, the records should be in a condition that allows a workplace inspector to determine whether an employee is receiving their correct entitlements and MUST include certain details, click here to download the government requirements that MUST be keep for each employee for seven years. They MUST be in plain English and easy to read. It is fine to keep your records on computer as long as you can print them out on request.
Long Service Leave Calculator
Small Business Victoria has a new tool to help you calculate your staff long service leave or your long service leave liabilities. To use the calculator, you will need to know:
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if the Victorian Long Service Leave Act 1992 applies (the calculator has information if you’re not sure)
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dates of employment
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how many weeks parental leave have been taken
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how many weeks long service leave have been taken
Click here to use the calculator or call 13 22 15.
Employment termination payments - when an employee leaves guide
This guide (PDF, 364KB) explains what you need to do when an employee leaves and you are making an employment termination payment (ETP). It will help you make and report the ETP, and calculate the tax amount to be withheld from the payment.
Published: 19 Jun 2008
Tax-free and employment termination payment amount for genuine redundancy or early retirement scheme payments
Use this worksheet (PDF, 84KB) to help you calculate the tax-free and employment termination payment amount for genuine redundancy or early retirement scheme payments. Do not use this worksheet for invalidity or death benefit payments.
Published: 24 Jun 2008
Employment termination payment on the death of an employee
Use this worksheet (PDF, 92KB) if you are making an eligible termination payment on the death of an employee. Do not include payments made to a trustee of a deceased estate. No amount is required to be withheld from a death benefit ETP paid to a trustee of a deceased estate.
Published: 24 Jun 2008
Employment termination payments worksheet
Use this worksheet (PDF, 96 KB) if you are making an employment termination payments. Do not use this worksheet for payments relating to invalidity, a death benefit, a genuine redundancy or early retirement.
Published: 24 Jun 2008
Temporary resident employees
If you employ staff who are visiting Australia on a temporary resident visa, you may have an obligation to pay super for them. Check this information to find out more about paying super for your temporary resident employees.
Published: 22 Nov 2007
When an employee stops working for you
When an employee leaves your employment and you make some sort of
final payment to them, the payment may qualify as an 'employment
termination payment' (ETP). This information provides detail about ETPs.
Published: 22 Nov 2007
Super for your new employees
This information helps employers check their super obligations
Published: 22 Nov 2007
Super for your current employees
As an employer, you will have super obligations for your current eligible employees. This information will help you understand what these obligations are.
Published: 22 Nov 2007
New PAYG payment summaries for employers
Outlines what to report in the new PAYG payment summaries for
employment termination payments and superannuation benefits
Published: 20 Nov 2007
Employment termination payment calculator (ATO Resource)
Employers can use this calculator to determine the tax free and taxable components of an employment termination payment made on or after 1 July 2007.
Published: 02 Nov 2007
We have been receiving many queries regarding payroll issues, as this is an area we do not specialise in we strongly suggest that you contact The Association of Payroll Specialists with all queries, they are highly skilled and up to date professionals who will be able to assist with any payroll issue that you may have.
Do not forget that we are still here to assist you with any concerns you may have in entering, maintaining and updating this sensitive information.
The Assocation of Payroll Specialists (TAPS) also run training courses, for further details click here
Listed below is relevant payroll information. Most are web links to other sites which we believe to be extremely useful for anyone providing a payroll service.
How to complete the PAYG payment summary - employment termination payment form (Tax Office information)
These instructions will help you complete the PAYG payment summary - employment termination payment (NAT 70868) form.
http://www.ato.gov.au/distributor.asp?doc=/content/content/00102371.htm
Published: 10 Jul 2007
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