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.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 payment5. the pay period (the period that the payment is for…

Post Budget Highlights

Posted by: ADP on 15 May 2014 in Budget, Legislation

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May 15, 2014 - by ADP Insider  Looking through the 2014-15 budget announcements and analysis, there are a number of areas that will be of interest to human resources and payroll professionals.Budget Deficit LevyAs widely reported in the budget lead up period, the Government announced a plan to introduce a new levy from 1 July 2014 for a period of 3 years. Officially named the Temporary Budget Repair Levy, it will apply to incomes over $180,000 at a rate of 2%. Other tax rates that are based on calculations at the top tax rate are also planned to increase by the same level and for the same period.Paid Parental LeaveThe Government has committed to its altered Paid Parental Leave scheme. Scheduled to kick off July 1, 2015, it will entitle new parents to six months (26 weeks) of paid parental leave,…

SuperStream

Posted by: ADP on 11 April 2014 in Compliance, Superannuation, SuperStream

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April 11 - by ADP Insider  There are new rules coming that will affect how you deal with superannuation payments for your employees.What is SuperStream?SuperStream is a new data and payment standard being introduced to improve the efficiency of the superannuation system. The standard requires employers to send all data electronically in a standard message format. All contribution payments must be made electronically and all payments and money must be linked with a unique payment reference number.Employers with 20 or more employeesEmployers with 20 or more employees are required to phase in to use the Data and Payment Standard (the standard) from 1 July 2014.Employers with 19 or fewer employeesEmployers with 19 or fewer employees are required to use the standard from 1 July 2015The standard requires employers to:Send all data electronically (such as the employee’s details and the amount of…