INTHEBLACK July 2022 - Magazine - Page 49
THE
MARKET
FOR
TALENT
71%
of Australian business
leaders plan to hire
international talent on a
permanent basis in 2022.
61%
are planning to recruit
internationals on a
contract basis.
60%
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“For businesses that don’t have a
corporate structure in another
country, there are exposures for
their firm if they allow their
employees to work in those
countries. The employees need to
have very clear guidelines given to
them by their employer’s tax
accountants; otherwise that
employer will be exposed.”
AYSEGUL KAYAHAN, RELOCATION SPECIALISTS
say there’re expecting to
lose local talent to
international
opportunities this year.
For employers, Keating offers some clear advice.
Have a conversation with an experienced accountant
to understand the compliance issues for you as an
employer, and for your employee, considering both
Australia and the overseas country’s requirements.
“It’s not as simple as allowing your employee to
move overseas and you continue to withhold PAYG
and pay superannuation on their behalf. In some
cases, employers simply will not have the same
obligations for remote employees as they do for
local employees.
“There are also issues to consider in the overseas
country, for example permanent establishment
issues, local payroll obligations and more. It’s
therefore important to seek advice from specialist
accountants beforehand, or risk making costly
mistakes,” says Keating.
“In recent years, we’ve been required to amend a
lot of clients’ tax returns and lodge objections on
their behalf, because their Australian employers
incorrectly withheld tax from their salaries in
73%
say they’re likely to hire
international talent to
relocate and work in
Australia.
68%
are likely to hire
international talent to
work remotely.
40%
say they are planning to
increase the initially
planned starting salary
for new recruits from
overseas.
intheblack.cpaaustralia.com.au July 2022 49