Expanding into Asia Pacific

Posted by: on 8 September 2014 in Multinational & Globalization

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Despite the global downturn, economies across Asia Pacific are going from strength to strength. According to the World Bank developing countries in the East Asia Pacific region will see stable economic growth this year, at 7.1 per cent. That’s largely unchanged from 2013. While growth is down from the average rate of 8.0 per cent from 2009 to 2013, East Asia remains the fastest growing region in the world. In China, - Asia’s engine room - growth will ease slightly, to 7.6 per cent this year from 7.7 in 2013. Excluding China, the developing region will grow by 5.0 percent, slightly down from 5.2 per cent in 2013.Compare that to the growth rate in Australia which, according to the United Nations which forecasts economic growth for Australia of 2.8 per cent in 2014, due to falling mining investments, fiscal restraint…

SuperStream Legislation Update

Posted by: on 4 August 2014 in Compliance, Legislation, Superannuation, SuperStream

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August 4 2015 - by Kate Anderson  You have probably heard about SuperStream by now, with the media recently picking up on the issue, and the ATO kicking off a communication campaign in June. For those who have been following SuperStream for some time, there were some changes to the program that you might have missed. There is now more time to comply, but that doesn’t mean you can take it off your ‘to-do’ list.Changes to the start period At the end of May, the ATO advised that some amendments had been made to the SuperStream legislation around start dates for the program, and when certain groups needed to be compliant.Large employers – companies with 20 or more employees now have from 1 July 2014 until 30 June 2015 to be compliantSmall employers – companies with 19 or fewer employees have…

Anti Bullying Legislation, What You Need to Know

Posted by: on 4 August 2014 in Compliance, Human Capital Management

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August 4 - By Leon Gettler  Workplace bullying is a matter that should concern all companies. From 1 January 2014, a worker who reasonably believes that he or she has been bullied at work can apply to the Fair Work Commission for an order to stop the bullying. The Commission can only make that order if there is a risk that the worker will continue to be bullied at work by the particular individual or group of individuals. It does not have the power to award compensation or reinstatement. Bullying in the workplace can take several forms:aggressive or intimidating conductbelittling or humiliating commentsspreading malicious rumoursteasing, practical jokes or “initiation ceremonies”exclusion from work-related events,unreasonable work expectations,including too much or too little work, or work below or beyond a worker's skill leveldisplaying offensive material or pressure to behave in an inappropriate manner.Workers covered by…

DIY Payroll Professionals – Seven Things You Need to Know this EOFY

Posted by: on 14 June 2014 in Payroll

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June 10 2014 - by ADP Insider The end of the financial year can be a stressful time for payroll professionals. Last minute changes to legislation, missing and incorrect employee data are just some of the headaches that have to be managed. If you’re battling this yourself, the pressure to get it right and on time is very real.So we went around the office at ADP Payroll and asked our payroll consultants “what’s the one thing a payroll person should do for a successful EOFY?” Here’s what we came up with.1. Record Payments in Payroll SystemAll payments made to employees such as salary, wages, allowances, etc. must be recorded properly in the Payroll System, as should all reportable fringe benefits to ensure correct and accurate Payment Summaries. Employee details also need to be current and accurate, for example, employee addresses, tax…

Payslip Health Check. What needs to be included?

Posted by: ADP on 30 May 2014 in Compliance, Payroll

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The Fair Work Ombudsman (FWO) has recently announced plans to visit 350 businesses throughout NSW, Victoria, Queensland, Tasmania and the ACT. In the spotlight is employment record keeping and payslips – click to access a quick Guide to understanding your obligations.Aside from being a legal requirement for all employers, including the minimum information on payslips is essential in the event of an employee dispute over pay. Having clear and complete information is the best way to ensure there is no confusion or misunderstanding.So what are the legal requirements for payslips? How can you check if your payslips comply? Here’s an example payslip with 11 requirements that every payslip must include.11 Compulsory Elements on every Payslip1. the employer’s name (e.g. XYZ Pty Ltd trading as XYZ Pie Shop)2. the employer’s Australian Business Number (if applicable)3. the employee’s name4. the date of…