HR For Small Business For Dummies, Australian Edition

Chapter 6

Calculating the Real Cost of Employment

In This Chapter

Understanding the cost of paying leave entitlements

Working with workers compensation insurance and payroll tax

Factoring in fringe benefits tax

Making sure you remember superannuation

Getting a little help with the employment costs ready reckoner

I mmediate costs, contingent liabilities, taxes, levies and superannuation charges are involved whenever you employ staff. These costs are in addition to wages, are real, and should be understood from the perspective of your business balance sheet. You can’t change them, but must work out how to manage them.

In this chapter, I explain where the cost of employment happens and how it impacts on the way you administer your business and manage the people within it. I cover how paid and unpaid leave affects the cost of employment and how you can manage those costs. I list the taxes, levies, fees and charges that governments like to impose on employers whenever a person is employed ...