Its back to school and back to work time!
Have your staff taken annual leave lately? Perhaps they’ve taken a long long Easter weekend or a long ANZAC day weekend or needed time off during the school holidays.
Are your leave records up to date?
Don’t forget, you need to provide your employees with their annual leave balance at any time they ask you. Its probably easiest to show the balance on the payslip (that is what most businesses do), so make sure you are providing accurate info for your team – they’ll need it for their holiday plans.
Knowing the balance each employee has accrued (earned) will also help you calculate your businesses liabilities (how much you owe at any point in time) you’ll need to pay out the balance if the employee leaves, so it helps if you know how much you need to have stashed away. Perhaps the balance is higher than you realised, you may need to request staff take some leave to refresh themselves (and make the balance more manageable).
STP2 means you need to report leave payments separately from normal wages to the ATO too. The Easter / ANZAC day period is likely to be your first test of the new rules.
Need help? Ask a BAS agent (like us!) to help you manage your employee and payroll records.
