Australia-wide Outsourced Payroll Services
We offer outsourced payroll services for businesses all over Australia.
Our expert, Melbourne-based team manages:
- Establishing payroll policies – such as pay policy, attendance and leave policies
- Collectingemployee data – such as personal details, tax file numbers (TFN) and superannuation details
- Managing interstate payroll tax calculations and compliance
- Calculating net pay
- Payroll planning
- Statutory compliance
- Payroll accounting
- Payouts
- Business reporting
- Accurate payroll processing and disbursement
- Timely submission of reports to business owners and Australian Tax Office (ATO)
- Prompt processing and payment of superannuation contribution
- End-of-yearfinalisation via Single Touch Payroll (STP)
- Detailed reporting of PAYG withholding to the ATO
- Final pay calculations at the time of termination of employment
- Analytical wages reports forbusiness owners
- Accurate management of employee entitlements— such as annual leave, long service leave and personal/carer’sleave for Australian companies
Payroll Services for companies manages processing and paying employees periodical wages and salaries. This key business function begins with processing the gross pay of each employee,before calculating the net pay — or take-home pay — after income taxes and superannuation contributions are deducted.
An efficient payroll management process is methodical and consistent, ensuring the utmost accuracy and compliance. The payroll manager is responsible for personal employee details such as name, age, address, tax file number, superannuation membership details, the hourly or annual rate of salary, type of employment (permanent, part-time or casual) and emergency contact details. They are also required to complete a tax file declaration and file it with the ATO.
Based on a weekly, fortnightly or monthly payroll calendar, the hours worked by each employee is input and, accordingly, the wages are calculated. With the advent of Single Touch Payroll — a sophisticated reporting system introduced by the ATO — the accurate and timely processing of payroll is critical to Australian business operations.
In addition to periodical wages, entitlements such as annual leave, long service leave, personal/carer’sleave and superannuation are also processed and stored in the relevant cloud-based accounting application.
Here at PremierOne, we evaluate your specific payroll requirements to determine a set monthly fee. Contact us today to learn more about how we can assist your business with its payroll requirements.
Clients love our payroll and accounting services!
Payroll Services & Outsourcing for Companies - FAQs
Payroll tax is the levy payable by the businesses to the state revenue offices based on the annual Australia national wages threshold stipulated for each state. It is payable either on a monthly or yearly basis.
PAYG withholding is the income tax applicable to your employees’ wages and salaries, which needs to be deducted from the salaries and wages payment and remitted to the ATO either monthly or quarterly, based on your gross sales turnover.
• Full-time employment where an employee works for a total of 38 hours a week.
• Part-time employment where an employee works only for a few days or hours in a week with full-time employment entitlements calculated pro-rata.
• Casual employment where an employee works on a casual basis with no specified hours and is not entitled to the benefits and entitlements applicable for full-time employees.
• Labour hire where the employee performs the work on a contract basis, with the contract start and end terms clearly defined. This is commonly seen in the Information Technology industry.
• The age and right to work in Australia
• Tax residential status
• Adequate work cover insurance to be provided by the employer
• Superannuation membership
• Tax file number
• Bank account details
• Personal/carer’s leave (formerly known as sick leave)
• Annual leave
• Long service leave
• Public holiday pay
• Compassionate leave
• Weekly: 52 cycles per year
• Fortnightly: 26 cycles per year
• Bi-monthly: 24 cycles per year
Wages, commission, allowances, bonuses are considered ordinary time earnings (OTE) and, accordingly, SCG is payable by the employer on such.
Overtime wages don’t attract a SCG.
• Single Touch Payroll (STP) reporting to the ATO at the end of each pay period processing.
• Superannuation contribution to the nominated super funds through the clearinghouse on quarterly or monthly intervals.
• PAYG withholding reporting and payment to the ATO monthly or quarterly based on whether you are a small, medium or large withholder.
• Computation and reporting for the payroll tax on a monthly or annual basis to the respective state revenue offices based on which states your employees are located.
• Annual actual wages declaration to your work cover insurances (this varies for each state) based on which actual premium is determined.
• If you are engaged in labour hire contracts or supply services, a labour-hire licence is now mandatory.
• End of financial year (EOFY) STP reporting and reconciliations to produce payment summary reports to your employees and the ATO.
• Ensure the wages for June are paid and credited into the employees’ bank accounts on or before 30th June.
• Ensure your superannuation for the June quarter gets paid by 30th June to qualify for a tax deduction. If it’s not possible to determine the superannuation liability for June, pay April and May at least, which will act as a tax saver for you.
• If you have any KPI bonus, commission, directors’fees or incentives that are payable relevant to the current financial year but could only be correctly computed and paid in the subsequent financial year, making a provision in the current financial year will also act as a tax saver.
• Initial setting up and configuration of the employees with the proper employment classification and entitlements.
• Pro-rata calculations for a new start and exiting employees.
• Answering technical queries from employees.
• Calculation of the complex payroll tax obligations and potential penalties if not reported correctly.
• Tracking of leave entitlements, especially long service leave, as it varies from state to state.
• Ensuring the accrued employees’ entitlements are appropriately accounted for to assess realistic business performance metrics.
• Frequent changes in working hours, overtime hours and pay rates requires accuracy and attention to detail.
• Processing of parental leave, maternity benefits, redundancy and work injury-related entitlements and payments.
• Correct reporting to the ATO and annual reconciliation for wages/PAYG withholding.
• Implementing good governance and controls in my payroll process to mitigate the risk of error and fraud.
• If your payroll system is a standalone system, periodical summary reports will get picked up in your financial accounting systems.
• Remembering that KPI or performance bonuses are to be paid exclusive of a superannuation contribution.
• Setting up and configuring your payroll systems, specific to your requirements.
• Creating the master file data for your employees with date of birth, TFN, leave entitlements and pay rates.
• Process the pay run based on timesheets and sending the draft for your approval.
• Once approved, we finalise the payroll, email payslips to employees, send you the electronic batch file for processing through online banking, and fulfil ATO reporting requirements through STP.
• Superannuation processing either monthly or quarterly based on your reporting obligations.
• End of financial year STP finalisation and reporting to the ATO.
• Month-end reporting to track the various payment categories, changes over previous pays and gross summary journal.
• Round-the-clock support to address any queries that arise.
• Appropriate calculation of tax for fractured pays arising due to termination and onboarding of employees outside the normal pay calendar.
Our Blogs
Payroll Implications on Recruiting a New Staff
Tax Guidance for Setting up a Business in Australia
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Bookkeeping Tips for Small Business
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Meet Our Team
Maru Natarajan
With 25+ years’ professional experience working as a chief financial officer (CFO) and Financial controller level across many industries in the Australasian region, Maru has turned his focus to providing world-class financial and accounting services to small and medium Australian enterprises. Maru, along with his dedicated team of PremierOne accounting professionals, is committed to utilizing his expertise and experience to help Australian businesses flourish. He is a Fellow of CPA and a registered tax agent.
Maru Natarajan
Managing Director
With 25+ years’ professional experience working as a chief financial...
Maree Hamilton
Maree is a certified practising accountant (CPA) and member of the National Tax and Accountants’ Association. With over 20 years’ professional experience in tax, accounting and bookkeeping, Maree has a wealth of experience in dealing with businesses and the many issues they face. With certifications in Xero, Quickbooks and MYOB, Maree’s passion is helping businesses to overcome the challenges of tax and accounting, and help them adapt to the future with efficient systems. Maree prides herself on working with businesses to maximise their profits and not only reach their goals but exceed them.
Maree Hamilton
TAX ACCOUNTANT
Maree is a certified practising accountant (CPA) and member of...
Hirusha Jayasekara
A commerce graduate from Deakin University, Hirusha specialises in accounting for the aged-care sector. He efficiently manages payroll, resident billing, attending to Services Australia requirements and overseeing day-to-day accounting, using sophisticated software applications.
Hirusha Jayasekara
Aged Care Accountant
A commerce graduate from Deakin University, Hirusha specialises in accounting...
Fransisco Silva
Francisco is a chief financial officer (CFO) with 20 years’ of professional experience with organizations such as KPMG, Shell, laxoSmithKline, Goodyear Tyres, Toll Global Logistics and Manpower. He is a Fellow of CPA, Fellow of CIMA (UK), in addition to holding a BSc. Accounting and Financial Management, post graduate diploma in Corporate and Commercial Law from Monash University and an Executive MBA from Melbourne Business School.
Francisco is well-versed in strategic financial planning, annual budgeting, monthly forecasting, business model reviews, growth strategies, business tenders and mergers and acquisitions.
Fransisco Silva
ON-CALL / VIRTUAL CFO
Francisco is a chief financial officer (CFO) with 20 years’...
Rohit Maru
Rohit provides administrative services and exceptional customer experience to clients. Currently studying for a double degree in Commerce and Information Technology, Rohit continuously demonstrates high levels of professionalism and will surely enjoy a long and successful career in the accounting industry.
Rohit Maru
JR Accountant .
Rohit provides administrative services and exceptional customer experience to clients....
Charitha Ranasinghe
Charitha is a chartered accountant with over 12 years’ professional experience gained while working for public practice firms like Ernst & Young. He holds memberships with the CPA Australia and the Institute of Chartered Accountants of Sri Lanka. He is actively studying to become a chartered tax advisor (CTA) and is a certified Xero advisor. Charitha is highly-proficient in financial reporting, annual budgeting, monthly forecasting, working capital management, tax compliance and payroll-related services.
Charitha Ranasinghe
Manager - Client Services
Charitha is a chartered accountant with over 12 years’ professional...
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