The Future of Payroll
with Glynn Flaherty & Kerry Agiasotis
Watch an interactive session as we interview key payroll leaders on the evolution & increasing complexity of Australian payroll in 2023, its impact on all businesses and advice on how you might future-proof yours.
- The evolutionary journey of payroll
- Compliance chance and award complexity
- Implications of getting it wrong
Topics
Evolution of Payroll
The function of payroll within businesses has significantly evolved over the years. It has moved away from being transaction-based and now requires more interpretation. The amount of information provided to the Australian Taxation Office (ATO) has increased significantly, and it is being used by organisations like Services Australia to determine eligibility and liability.
Challenges in Payroll Management
The complexity associated with payroll and the frequency with which the ATO and government require information creates a significant burden for organisations. The role of payroll has evolved from a clerical function to one that requires access to resources and qualifications. There is increasing recognition of the difficulty of payroll within organisations.
Impact of Technology and Legislation
The role of technology in the market and the burden of compliance are significant. The complexity of tax reporting systems and the different definitions of income, eligibility, and liability pose challenges. There is also the difficulty of keeping up with multiple sets of payroll tax legislation, workers' compensation, super guarantee law, and pay-as-you-go withholding.
Consequences of Getting Payroll Wrong
The recovery of $532 million in underpayments by Fair Work and the potential impact on corporate image and being an employer of choice were highlighted. There is approximately $2.9 billion of superannuation owed, with $1.7 billion not being correctly sent to the super funds. Organisations and their directors can be personally liable for underpayment of wages, superannuation, and GST.
Need for Investment in Payroll Management
The importance of investing in the right technology and expertise for a business was emphasised. The significant cost of getting it wrong suggests that businesses should take steps to avoid uncertainty in the present and future. The importance of certification, such as in payroll professionals, and the use of resources like the AP were also mentioned.
Glynn Flaherty, Payroll Matters
Glynn Flaherty is the Director of Payroll Matters Pty Ltd with over 20 years of experience in advising and assisting clients in employment-related areas with a particular focus on taxation.
Glynn also provides specialist payroll-related training throughout Australia and overseas on Australian obligations.
Kerry Agiasotis, President of The Access Group Asia Pacific
Kerry has more than 25 years of senior leadership, business management, sales and consulting experience gained primarily within Technology and Financial Services Industries.
In his previous role, Kerry was the President and Managing Director of Sage Asia Pacific, before joining The Access Group.
Watch Full 30min Session
Hear from Glynn Flaherty Director of Payroll Matters & President of The Access Group Asia Pacific, Kerry Agiasotis who with their 45 years of experience will uncover how:
- Payroll is NOT just payroll – The evolutionary journey
- Speed of compliance change and award complexity – The pressures and fallout
- Implications of getting payroll wrong – The business & personal impact
