For the past year, headlines highlighting the failures of key employers to adequately pay workers have become frighteningly common. Last year saw 7-Eleven franchisor Mai Pty Ltd suffer hefty fines for systematically underpaying workers, and concealing those underpayments through false payroll records. Earlier this year, celebrity chef George Colombaris made headlines for reimbursing $2.6 million to 200 staff members after six years of inadvertent underpayments.
Tax fraud reached its pinnacle with the recent scandal involving start-up company Plutus Payroll, involving the siphoning of $165 million tax dollars. What is now known as Australia’s biggest white-collar fraud case has left employers anxious over the legitimacy of their outsourced payroll.
However, even where payroll has not been outsourced, the multiple agreements, 100+ awards and growing number of legislation governing payroll is enough to concern any employer. As the legislation surrounding remuneration increases in complexity, businesses have now found themselves to be negotiating a payroll minefield.
Negotiating the Payroll Minefield
As businesses move towards more innovative methods of management, the way in which the workplace operates is changing rapidly. Despite any flexibility in location and hours, employers are expected to pay employees via the correct awards and agreements, regardless of any unique working arrangements. This can be difficult given the complexity of remuneration.
For employers to be able to focus on business as opposed to administration matters, businesses need a platform that is able to streamline the payroll process in a way that is fully compliant with the ATO.
The foundU platform delivers this service, through features such as award and EBA interpretation, automatic interpretation of timesheets, and single touch payroll, so employers can be sure that their workforce is 100% compliant.