Case Study 1

Anthony's business, Go Golfing has grown exponentially, which is great. However, it has caused some complexities for his business as he now employed an administration officer to organize bookings and changed his business structure to a private company.

Compliance issue 1: Meeting superannuation requirements

After two weeks of commencing their role as an administration officer, they have come to you enquiring about their superannuation. This has not been done by the business and you are requested to fix up this problem. Anthony is very concerned about this omission and wants to consult with you regarding this matter.

Anthony has drafted what he thinks are the correct procedures and wants the policy checked for accuracy. These are the current procedures in place to meet this compliance requirement.

Go Golfing current procedures to pay superannuation contributions:

1.Provide a choice of super funds to eligible employees.

2.Pay at least the minimum 9.50% contribution amount of the earnings base

3.Pay super contributions for eligible employees

4.Keep records of super contribution payments

Compliance issue 2:Meeting records management requires for companies

The compliance issue in relation to superannuation has concerned Anthony. He is no worried that since changing to a company structure he is no longer meeting compliance in relation to records management.

This isthe current procedure in place to meet this compliance requirement.

1.Keep records for five years