• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

Payroll, compliance issues top dodgy practices in Aussie business

Thousands of anonymous reports to the workplace regulator have shown problematic payroll practices and shoddy internal compliance procedures are the leading causes of employee exploitation, particularly of foreign nationals. 

 

 

More than 20,000 tip-offs alleging potential workplace breaches have been made with the Fair Work Ombudsman since the launch of its Anonymous Report tool in mid-2016.

The vast majority of anonymous reports contain allegations concerning pay, with a large proportion of the reports received each month relating to the hospitality industry, with retail the next most-reported industry. 

In one example, an audit of a company’s record, following a tip-off, uncovered evidence of contraventions in relation to pay rates, break entitlements and pay slip requirements.

The company had been accused of paying its employees as little as $8 per hour, cash in hand, and were later issued with a compliance notice and a contravention letter, resulting in approximately $50,000 in wages and entitlements being paid back to workers.

Fair Work Ombudsman Natalie James said information received from members of the public provided valuable intelligence which helped design future compliance activities.

“The reports we receive enable us to identify trends and generate leads for our inspectors to follow up,” Ms James said.

“This assists us to focus our priorities and direct our resources to those areas where we will have the greatest impact.

“We also know that most people who use the tool provide information about their current employment.”

Young people, students and visa holders accounted for a significant number of the anonymous reports received, an indication of the vulnerability of these cohorts in the workplace. 

Close to 800 reports were received in languages other than English, with Chinese and Korean the most common languages used.

The Fair Work Ombudsman has been shining a spotlight on payroll, with two-thirds of the workplace regulator's court cases involved alleged record-keeping or pay slip contraventions in the last financial year.

 

By: Staff Reporter
23 FEBRUARY 2018
accountantsdaily.com.au