Expanding your business in Australia can be a huge opportunity for company growth. Australia is the 12th largest economy in the world, and has few barriers to entry with a legal and corporate framework similar to the United States.
But expanding and managing payroll in Australia isn’t as easy as it sounds – there are challenges to starting or expanding your business. There are tax structures and required payments each year that can be extremely time consuming if you do not have a local partner in-country. Setting up the correct business structure, determining licenses necessary to operate, and registering with the Australian Securities and Investments commission are just a few steps to getting up and running in Australia.
Single Touch Payroll is a new government initiative introduced that will streamline business reporting obligations. Employers with 20 or more employees need to report using Single Touch Payroll beginning July 1, 2018. There are many regulations regarding Superannuation, and Pay As You Go (PAYG) that must be filed with the Australian Taxation office. To avoid penalties and fines, ensure you are utilizing technology and in-country experts to ensure total payroll compliance. To learn more, visit https://www.ato.gov.au/Business/
Whether you are already doing business in Australia, or looking to expand, you need a partner who can manage the laws and regulations for payroll, taxes, and retirement benefits. As an industry leader, Blue Marble Payroll equips your organization with the knowledge and global payroll solutions you need to achieve success in your operations and payroll in Australia.