Talking Cents

Small business employer obligations to employees

One of the key elements to any small business is employing the right staff and then keeping them. As a small business employer, there are many obligations that must be met to ensure that you are compliant with the law which will help you in providing a safe and productive work environment. Some of these are:

· Ensuring that any employees that are covered by an award are paid the correct rates of pay according to that award.

· Ensuring a safe work environment. This will lead to less injuries and a more productive work place.

· Making sure the correct amounts of PAYG Withholding are withheld from employee wages and then remitted to the ATO on time.

· Making sure compulsory superannuation payments are made on time to complying superannuation funds.

· Having all employees complete TFN declaration forms and then ensuring that these forms are submitted to the ATO promptly.

· Making sure that an appropriate workers compensation policy is in place to protect your staff in the event of injury.

· Finally, ensure that you keep all employee records for a minimum of seven years to satisfy the law and protect your business in the event of any disputes.

Employees are your best asset, so you need to look after them!!!