Compliance issues are the requirements set by the Australian Taxation Office regarding accounting and taxation. It is essential that every business owner/ operator is aware of these requirements. Whether your concerns are taxation, accounting, business planning, cashflow and budgeting, or business valuation, you can be rest assured that our staff are available to advise you.
Our complianceservices include:
Preparation of financial annual accounts
Preparation of periodic management accounts
Book-keeping services
Maintaining BAS, IAS and GST records and associated returns
Australian employers are required to pay super to their employees when they earn $450 a week or meet specific criteria based on age or industry. Employer requirements can get confusing however when dealing with international workers or sending employees overseas. Here are the requirements employers must follow when handling super payments to workers with different visas.
Temporary residents: Temporary residents working in Australia may be eligible to receive super from their employer. Eligibility criteria are the same as it would be for a permanent Australian resident, you must be 18 years or older and have been paid $450 or more (before tax) in a month. Working holiday makers holding a 417 (Working Holiday), 462 (Work and Holiday) or an associated bridging visa can access the super paid as a departing Australia superannuation payment (DASP).
Employees working overseas: For an Australian employee sent to work overseas, their employer must continue to pay super contributions in Australia for them. The other country may require the employer or employee to pay super there as well if Australia does not have a bilateral agreement with that country. To gain exemption from the super payment in the other country, the employer needs to show the authorities in the other country a certificate of coverage gained from the ATO.
