Employer Obligations and Advice Ascot Vale
As a small business owner the decision to employ or contract your first worker or subsequent worker is often an exciting milestone in the journey of your business. As well as enjoying this milestone it is also very important that you fulfill your employer obligations.
1. Employee vs. Contractor
It’s important to determine whether your worker is a employee or contractor as it impacts your Tax and Superannuation obligations.
2. Taxation Obligations
There are a number of Taxation obligations for an employer, these include obligations such as:
- PAYG Withholding registration
- Record keeping and reporting
- Calculating the amount of PAYG tax to withhold
3. Superannuation Obligations
There are also a number of Superannuation obligations that need to be met by employer, such as:
- Determining eligibility for super
- Establishing a default super fund for workers
- Paying superannuation
To learn more about employer obligations and responsibilities, contact MAS Tax Accountants to arrange an obligation free meeting with Duncan Warnock (CPA) from the MAS TAX Maribyrnong office. Duncan can meet you in his office or come to your preferred meeting location.
For an appointment, or a confidential discussion of your needs, please contact our Tax Accountants today, or call 1300 627 829.