Company Closure - EOR Australia

Australia Company Closure

EOR Australia’s mix of professional HR services can help companies in Australia in de-registration of their business.

How to close your company in Australia?

EOR Australia provides dedicated HR services to streamline the closure of your business in Australia, ensuring full compliance with local regulations and lightening the administrative workload. Rely on us for a smooth and compliant company deregistration process.

Financial commitments

Clear all remaining financial obligations such as debts, taxes, and payroll to prevent legal disputes.

Obtain a tax clearance certificate from the local government.
Comply with local regulations for employee severance and notice periods

Contractual Fulfillment

Assess and correctly conclude or reassign agreements with vendors, clients, and partners.

This could imply that termination isn’t an option for all staff members. Key personnel can remain on the payroll post-entity closure by engaging EOR Australia‘s Employer of Record service.

Keeping core operations active in Australia after closure

There are instances where businesses, despite shutting down their Australian entity, continue to have operational needs within the country.

Employer of Record (EOR) services, also known as employee leasing, enables clients to maintain a workforce in Australia beyond the closure of their local business. EOR Australia assumes the legal employer status in Australia for your critical team members, while you maintain complete oversight of your remaining staff.

Using EOR service during closure

Reach out, outlining your business requirements.

Expect a response from us within one working day.
Identify key staff to continue in Australia.
Receive an EOR pricing estimate from EOR Australia.
Access EOR services to maintain your selected team.
EOR Australia prepares contracts and manages payroll and benefits.
Re-establish regular communication and operations with your Australia-based team.

Why EOR Australia?

EOR Australia, with a track record of decades in the industry, stands as a reliable provider of Employer of Record (EOR) services within Australia. We provide an all-encompassing solution designed to streamline the hiring and employee management process, ensuring adherence to local legal and regulatory frameworks.

Comprehensive HR Assistance

In addition to serving as your Employer of Record in Australia, we provide an extensive suite of HR services, delivered entirely in English.

Local Presence and Knowledge:

Australia Payroll Service

All of our clients enjoy easy access to our in-house payroll services for convenient record keeping.

Frequently Asked Questions

What is the main difference between an EOR and a PEO?

An EOR helps businesses hire employees in Australia without needing a local entity, while a PEO provides HR services like payroll and benefits management for businesses that already have a legal entity in Australia.

How long does it typically take to hire an employee in Australia?

The hiring process in Australia can vary greatly depending on the complexity of the position, the industry, and the company’s specific hiring practices. However, a general timeline might include job advertisement (1-2 weeks), application review and shortlisting (1-2 weeks), interviews and assessments (1 week), reference checks and final selection (1 week), and the offer and onboarding process (1-2 weeks). So, it could take anywhere from 4 to 6 weeks or more to hire an employee in Australia.

Can a foreign company hire employees in Australia without a local entity?

Yes, a foreign company can hire employees in Australia without a local entity by partnering with an EOR. The EOR acts as the legal employer and takes care of all the local compliance, payroll, and employment matters on behalf of the foreign company. This allows the foreign company to hire and manage employees in Australia without the need to establish a local legal entity.

How does an EOR help with the payment of social security and taxes for employees in Australia?

An EOR helps manage the payment of social security and taxes for employees in Australia by registering the company for Pay As You Go (PAYG) withholding for income tax and ensuring that the correct amount of tax is deducted from employee wages. The EOR also manages the payment of the Superannuation Guarantee, which is a compulsory retirement savings contribution that employers must make for their employees. The EOR ensures that these payments are made in compliance with Australian laws and regulations.

What happens if an employee in Australia is injured at work?

If an employee in Australia is injured at work, the employer is required to follow the country’s workers’ compensation laws, which provide for the payment of benefits to employees who suffer a work-related injury or illness. The employer should report the injury to the relevant authorities and to their workers’ compensation insurer. The employee may be entitled to receive medical treatment and compensation for lost income during the recovery period. The specific process and benefits can vary by state and territory, as workers’ compensation is regulated at the state level in Australia.

What is the annual paid leave entitlement for employees in Australia?

Under the National Employment Standards (NES) in Australia, full-time and part-time employees are entitled to a minimum of 4 weeks of paid annual leave per year. This is a baseline requirement, but modern awards or enterprise agreements may provide for more than this minimum entitlement. Some employees may receive between five to six weeks of paid annual leave based on their employment conditions. Employees accrue annual leave entitlements based on their ordinary hours of work.

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