When you work for a large business everyone seems to know how to run a payroll system. But, what happens with payroll for small business? Now is one of the best times to assess payroll providers for small businesses with the recent alleged fraud involving a payroll service known a Plutus. There are legal limitations and obligations that a business owner needs to adhere to, to learn more about the different options and what you should be looking at as a business owner, read more in this article.
Key Takeaways:
- Payroll services are becoming increasingly popular for smaller organisations, as business leaders recognise that employing a dedicated payroll officer is inefficient
- in the wake of the recent alleged fraud involving payroll service provider Plutus, now is a good time for businesses to assess their payroll provider arrangements and review associated risks.
- An employer could potentially have to pay the amount again to the ATO even though they have already paid the amount to the service provider.
“If you use an outsourced payroll service, you should be aware that paying these amounts to the service provider does not meet your obligations to the ATO.”
Read more: https://insidesmallbusiness.com.au/planning-management/payroll-for-small-business
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