Well, congratulations! Your business has grown to the point where you require your first employee. Apart from finding the ideal employee, you also need to fill out some relevant paperwork and make sure the correct registration and insurances are in place.
The following are things you need to consider:
1. First check that you are registered for PAYG Withholding. If you aren’t sure, check with your accountant or the Australian Taxation office. If not, you’ll need to register before you start paying wages.
3. Provide them with an employee contract, which shows their job description and what they’re expected to do as well as their salary and superannuation. You also need to state starting and finishing times along lunch break specifications. You should also point out the terms of employment, including sick days and annual leave (don’t forget these need to be complaint with Fairwork). Some may contain a restrictive covenant, confidentiality and how their employment can be terminated. You might also wish to get a lawyer to draft an employee contract up for you.
4.Tax File Number Declarations need to be filled out by your new employee and sent to the Tax Office within 14 days. Don’t forget to file your copy.
5. Super Choice – your staff can select where you pay their superannuation.
6. You will need to get their bank details of where they’d like their wages to be paid.
7. Check whether you have all the necessary insurances. You will need to look at the following insurances: – Workers Compensation, Public Liability and Business Insurance.
8. Make sure you comply with Work Cover and have Occupation Health and Safety (OHS) procedures in place as well as a HR & Procedures manual.