ng Requirements:
requirements and how these interact with the new penalty regime. This article explores why these record- keeping aspects are critical to get right for payroll. 1. What are the key Fair Work Act record-keeping requirements? Section 535 of the Fair Work Act 2009 (Cth)
(FWA) sets out that all employee records:
employment type; Rates of pay and gross/ net payments; Bonuses/incentive payments; Deductions (including tax and student loans); Penalty rates, loadings and overtime hours; If casual or paid hourly, hours of work; Leave balances; Superannuation contributions; and Termination records.
are kept for at least 7 years; are not false or misleading; and contain the information prescribed in the Fair Work Regulations 2009 (Cth) (the Regulations). The Regulations require specific information to be kept, including: Employee details, commencement date and
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ISSUE 13 GLOBAL PAYROLL MAGAZINE
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