Payroll Implications of Recruiting a New Staff Member

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Onboarding a new staff member brings with it many payroll implications to be considered. When appointing a new staff member it is important to assess the following areas of payroll processing:

  1. Current minimum wage rates
  2. Awards applicable for different industries and the fine detail within the award for payments such as allowances, annual leave, annual leave loading, overtime and penalty rates etc
  3. Superannuation Guarantee thresholds
  4. Entitlements such as annual leave, long service leave, sick leave etc
  5. Other tax rates for HECS debts etc

It is important to be mindful of the basis on which you hire employees – permanent, Part-time, Casual, Full Time, Contract etc.

Be mindful of checking that new employees have the required licenses and qualifications to perform the work that they are hired to perform.

It is important to check the pay rates for each employee and keep up to date with changes in award rates etc.

Each new employee must complete and sign a tax file number declaration form to be lodged with the ATO. You are also required to obtain their Super Fund Policy details to make compulsory super payments on their behalf.

Fair Work is a useful point of reference for Employers as it provides information on employee awards and agreements, employee contracts and conditions and more.

Employers are required to report tax and super information for each employee through the Single Touch Payroll System with the ATO. Payslips should be provided to employees each pay period.

Superannuation for employees is required to be paid on or before the due date to avoid penalties.

If you need help with creating an employee contract you can utilise the services of PremierOne or contact us at resultsmatter@premierone.net.au

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