Employing Staff

We understand that employing staff can be daunting, that’s why at CBW Accounting and Taxation we have put together a list of links that take you to important forms, templates and resources to simplify the process for you.

Of course, CBW Accounting and Taxation is always here to help you through the process. Feel free to reach out if you require any further assistance.

Remuneration

You must pay your employees the minimum amount that is set out in the National Employment Standards (NES) or the relevant industry award or agreement if one applies. Awards can be difficult to navigate and if you are unsure of any entitlements your employees may be entitled too, it is important to seek further advice.

National Employment Standards - Fair Work Ombudsman

Pay & wages - Fair Work Ombudsman

Employment contract

Employment contracts are an important step in the employment process and should include a copy of the job description. It helps both the new employee and employer understand what is legally required of both parties and sets out the terms of employment such as remuneration, work hours, leave entitlements, non-compete clauses etc. Business Victoria have a simple, easy to use tool which we’ve included in a link below. For more comprehensive agreements, it is always a great idea to seek legal advice on what can and can’t be included.

Create an employment contract | business.gov.au

New employee form

There are a number of forms that you need to have new employees complete either before or on the first day they commence work. These forms give you as the employee the tax and super information you will need to pay them.

TFN_declaration_form_N3092.pdf (ato.gov.au)

Superannuation Standard choice form (ato.gov.au)

You will need to provide all new employees with the Fair Work Information Statement

Fair Work Information Statement

 Other information you may need to ask for are their bank account details for payment and emergency contact details.

Workcover

It is a legal requirement that a business takes out a workcover policy for all employees and some contractors. It’s a simple process and something CBW Accounting and Taxation is more than happy to help you navigate. An annual declaration of your actual wages needs to be completed each year.

How to register for WorkCover insurance - WorkSafe Victoria

Other important issues

Superannuation Guarantee – must be paid on ordinary time earnings at the prescribed rate.

Single Touch Payroll – all employee wages must be reported to the ATO via a single touch payroll program. We recommend using Xero due to it’s ease

BAS – All wage information must be reported on your BAS either monthly or quarterly, depending on your lodgement program

Payroll tax – must be paid once your wages reach the limits as set out for each state and territory

Fair Work has a number of templates available to use for employees. It is worth checking these out and knowing they are available for the business to use

Templates - Fair Work Ombudsman