Whats the fuss about?
Now that the first tranche of employee Modern Award changes are in effect, and the next two following before the end of February, it’s time to book in your Payroll Compliance Review to ensure you are compliant with the changes to your industry. These new awards are signalling changes to HR practices, which employers must comply with. They include:
1. Annualised Salaries
2. Accessorial Liability
3. Recordkeeping and Reconciliation obligations
4. Reporting to Employees
5. Payroll & HR Systems
Ok, so what do we do?
Time for a review!
We can conduct a Payroll Compliance Review to determine any changes that need to be made and to ensure that you are managing your payroll processes in the most efficient way while remaining compliant with these new updates.
As part of a Payroll Compliance Review the following need to be evaluated:
1. Employment contracts
2. Relevant Awards for your business and rates paid
3. Entitlements and accruals
4. Superannuation recording and payment methods.
5. Software setup and processing
6. Record keeping systems
Lets act now!
Employers need to update their employment contracts and HR practices by 1 March 2020 to ensure their compliance with the new regulations. Book a review today!