legal risk, foster employee trust, and enhance their brand. In short, they can future-proof their business. Advances such as Ramco Systems’ Anomaly Engine continuously scan for pay variances, enabling payroll teams to proactively address potential underpayments and providing businesses with auditable evidence of compliance efforts. By proactively monitoring regulatory changes, it is possible to remain current with all statutory requirements and gain true peace of mind. Key Takeaways 1. Wage underpayments are now a criminal matter, not just a compliance issue 2. Payroll systems and teams are the first line of defence 3. Accuracy and auditability are non- negotiable 4. Demand for smarter payroll tools and skilled staff will grow 5. Prevention and transparency are the best protection
As Australia adapts to new wage compliance laws, leading payroll platforms are embedding regulatory intelligence to automatically track and apply legislative changes.
Looking Ahead: The Future of Payroll Technology As Australia adapts to new wage compliance laws, leading payroll platforms are embedding regulatory intelligence to automatically track and apply legislative changes. This shifts much of the compliance burden to the provider, reducing risk and freeing payroll teams to focus on strategic priorities. Conclusion: From Compliance Risk to Competitive Advantage Australia’s new wage theft laws pose challenges—but also offer a chance to turn payroll into a strategic asset. With advanced, compliant payroll systems, businesses can mitigate
to correct potential underpayments before payment processing. Demonstrating Compliance: The New Imperative Advanced payroll platforms now enable businesses to demonstrate a reasonable and proactive approach to compliance. Implementing systems that both process and review payroll for issues helps businesses establish a defensible compliance position with clear audit trails and variance explanations,
thereby simplifying dispute resolution,
satisfying regulators, and providing payroll teams with peace of mind.
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ISSUE 12 GLOBAL PAYROLL MAGAZINE
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