What are the typical pay periods practised by Australian Businesses?
• Weekly: 52 cycles per year • Fortnightly: 26 cycles per year • Bi-monthly: 24 cycles per year
What are the significant entitlements for the full-time/part-time employees?
• Personal/carer’s leave (formerly known as sick leave) • Annual leave • Long service leave • Public holiday pay • Compassionate leave
What are the critical factors for you to have an employee on board?
• The age and right to work in Australia • Tax residential status • Adequate work cover insurance to be provided by the employer • Superannuation membership • Tax file number • Bank account details
What are the various employment arrangements that are commonly seen in Australia businesses?
• Full-time employment where an employee works for a total of 38 hours a week. • Part-time employment where an employee works only for a few days or hours in a week with full-time employment entitlements calculated pro-rata. • Casual employment …
What is payroll tax and PAYG withholding?
Payroll tax is the levy payable by the businesses to the state revenue offices based on the annual Australia national wages threshold stipulated for each state. It is payable either on a monthly or yearly basis. PAYG withholding is the income tax …
In which locations does PremierOne provide virtual CFO services?
Though we are located in Melbourne, we offer virtual CEO services throughout Australia.
What services are offered by PremierOne virtual CFOs?
Our virtual CFO’s will oversee your current bookkeeping and controller staff to ensure all procedures are optimum. They also present accurate financials and ensure you are using the correct and most up-to-date financial software to best operate your business.
Is a virtual CFO necessary for small businesses?
As a company begins to grow, the need for financial planning also arises. A virtual CEO allows you to access high-calibre talent without the price-tag of an in-house hire.
Can a virtual CFO provide a financial forecast?
Yes. Our virtual CFOs have extensive experience in forecasting and can provide a detailed forecast based on your long-term goals.
Should you consult with an external Accountant or Bookkeeper?
Some organizations may have an in-house Accountant/Bookkeeper, but that they may not have experience overcoming a particular challenge or achieving a particular goal (such as systems design, raising capital, etc.). A Virtual CFO may consult with or advise the existing …