Australia is noted to be a haven for companies who wanted to grow internationally because it provides a lot of business opportunities. Australia has a strong economy and low unemployment rate. Companies that would expand business in Australia can establish their presence in the other side of the globe without experiencing cultural and language barriers usually associated with hiring employees from other countries.

For companies to leverage the benefits available to businesses in Australia they have to have knowledge with the payroll system including the TAX System. Since Australia has a pay-as-you-go (PAYG) system for income tax. This will allow employers to retain amount due for tax from their employees paychecks. The tax table is not the same in all of Australia’s states and territories. Because of this you will need sound advice from experience people, Bookkeeper Melbourne can provide.

 Industrial Relations System. This refers to Australian Fair Work Act which promulgates guidelines for working conditions such as hours of work, flexible time for work, parental leave, vacation time and other work related benefits.

 Superannuation is a pension and retirement program which mandates contribution from employers proportionate from employees salary pegged at 9% for retirement/pension.

 Payroll Tax –  the rate varies by states and territory government. There is also a Workers Compensation Insurance coverage mandate to cover for accidents happening in the workplace.

Fringe Benefits Tax. These are taxes to be paid by employers for non-cash benefits granted to their employees. The provision specifies that non-wage benefits over 2,000 dollars must be reported in the employees payment summary.

With these so many provisions cited, the assistance of experts and knowledgeable people , the Bookkeeper Melbourne would be helpful.