How long to keep payroll records?

In Australia you’re required to keep payroll records for seven years. This is to make sure your employees’ rights are protected. Fair Work Australia can audit your payroll records. If there are any problems with your employees’ details or pay –  you may be subject to penalties.

Employee payroll records include PAYE payslips, payment summaries, tax file number declaration forms, tax reports and payment details. This includes hours worked and wages earned. These documents must all be legible and in English.

 

Related Xero feature: 
Payroll software with all the tools you need
Do simple pay runs in Xero

Related Small Business Guide:
How to prevent common small business payroll mistakes

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How long to keep payroll records?

In Australia you’re required to keep payroll records for seven years. This is to make sure your employees’ rights are protected. Fair Work Australia can audit your payroll records. If there are any problems with your employees’ details or pay –  you may be subject to penalties.

Employee payroll records include PAYE payslips, payment summaries, tax file number declaration forms, tax reports and payment details. This includes hours worked and wages earned. These documents must all be legible and in English.

 

Related Xero feature: 
Payroll software with all the tools you need
Do simple pay runs in Xero

Related Small Business Guide:
How to prevent common small business payroll mistakes

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