As business owners we wear many different hats and have lots of responsibilities. One of these is to make sure that our employees are being paid correctly.
There have been many reported cases of wage theft recently, with celebrity chef, George Colombaris of Masterchef fame being the latest business exposed with a staggering $7.8 million in underpayments.
The Federal Government is now looking to criminalise wage theft, which could mean jail time for employers who deliberately exploit workers.
So what can you do to avoid ending up in hot water?
Here’s our top 6 tips to keep your business out of the headlines.
With Single Touch Payroll now in place it has never been easier to determine whether employees have been underpaid. This also extends to unpaid super.
So make sure you take care when paying employees and remember to seek advice when required.
Mark has helped us immensely to understand our financial position, these guys are not just tax agents, they fully understand all aspects of business.
Daniel and his team at Tactica Partners have been taking care of me, my family and my company's accounting needs and I highly recommend him and the team. They've made getting tax done so easy and Daniel is an amazing accountant and extremely thorough and helpful.
…very professional, well prepared and organised. They have given us great business and personal tax advice, offered us good business insights, and more general personal planning advice too.
They continually deliver on all aspects of their service offering. …..we appreciate the substantial assistance they have provided in managing our bookkeeping function and providing proactive tax and accounting advice. We value their ongoing input in helping us strive for continual improvement on our reporting processes and delivery of timely information to our US office.
At last! An accountant who has "not" had a totally successful charisma bypass operation! Sensible and knowledgeable advice. Excellent!
Mark H and Helen have given us wonderful support for our family and business accounting for several years now. When I got my first invoice I grumbled……. not now. We can see the savings and feel the security for ourselves.