Communication & Monitoring Activities
Our Team will be an extension of your Admin / Head Office structure while providing valuable day to day support to your people on the ground in Australia. Once we are appointed to act for you, our philosophy is that we are now part of your Team, not a separate entity.
In conjunction with Head Office we establish the internal controls & reporting requirements for which we will operate and monitor the Australian employees & company. The level of our responsibility is entirely up to you. For many of our companies we act as Director, control the day to day activities of the bank account, have expenditure approval limits and provide commercial advice to the local employees when required.
Reporting requirements vary from company to company. Some have weekly cash flow funding & expenditure approval, provide payroll approvals while others set parameters within which we operate autonomously. Head Office always has access to the Australian Bank accounts and a visual on the inflows & outflows.
In conjunction with Head Office we establish the internal controls & reporting requirements for which we will operate and monitor the Australian employees & company. The level of our responsibility is entirely up to you. For many of our companies we act as Director, control the day to day activities of the bank account, have expenditure approval limits and provide commercial advice to the local employees when required.
Reporting requirements vary from company to company. Some have weekly cash flow funding & expenditure approval, provide payroll approvals while others set parameters within which we operate autonomously. Head Office always has access to the Australian Bank accounts and a visual on the inflows & outflows.
Taxation, Regulatory & Statutory Requirements
Our Team will take care of all your Australian company's taxation, regulatory and statutory requirements as part of our holistic approach to servicing you.
Taxation> Annual Company Tax Return - You can determine your balance date. In Australia, most entities are 30 June to mirror the employee personal tax dates;
> Annual Fringe Benefits Tax Return - 31 March; > Annual Payroll Tax Reconciliation - 30 June; > Quarterly Business Activity Statements (BAS) for Goods & Services Tax (GST) - Sep, Dec, Mar & Jun; > Monthly Instalment Activity Statements (IAS) for Pay As You Go Withholding (PAYG) otherwise referred to as Employee Taxes Withheld; > Monthly Payroll Tax reconciliations - State based. |
Regulatory> Annual Workers Compensation Insurance payroll reconciliation(s) - Dates vary between States;
> Annual Employee Payment Summaries and Australian Taxation Office (ATO) reporting - July |
Statutory> Statutory Records control & maintenance;
> Australian Securities & Investment Commission (ASIC) Annual Company Return; > Audit Relief, if required. |