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Accountants Letter and Auditable Training Plan

Auditable Training Plan:

When it comes to skilled workers, the purpose of the Temporary Work visa program, which is the subclass 457, is to allow employers to fill up skill shortages, which range from short to medium term, by recruiting qualified workers from outside of Australia. Nevertheless, this can only take place when they are unable to find skilled workers locally.

However, at times, certain employers in some industries are sourcing their skilled labour needs outside of Australia without first checking the availability of labour locally. They are not unlawful, but these actions are not in line with the principles of the subclass 457 visa program. Currently, The Australian Government is encouraging all employers to invest in training for developing skilled Australian workforce.

In order to meet the requirements of the new visa program; employers must meet some training benchmarks. Furthermore, they must track the records of the training expenditure. Here is how our company can help out. We can help you maintain the training expense accounts.The organisations have two options for meeting the interim training benchmarks’ requirements. They must choose one of the following:

  • Training Benchmark A: This sets recent target expenditure by the business, to the equivalent of, at least 2% of payroll of the business. These payments are to be allocated to an industry training fund that operates in the same industry as the business.
  • Training Benchmark B: This sets the recent expenditure by the business, to the equivalent of, to be at least 1%of payroll of the business. This is in the provision of training to employees of the business, who are Australian citizens or Australian permanent residents.

Here the payroll is defined by the amount of money employees are paid to in forms of wages in the 12 months prior to application lodgement. In this case, we can help to define & confirm the payroll provided for the employees.

The training provided can both be external short-term courses &internal on-the-job training programs. The training programs are customised to meet the organisational needs.

Accountant’s Letter:

When it comes to the accountant’s letter in the various visa requirements, it can be also rephrased as an auditor’s letter. As the new term suggests, it is an overview of the company’s performance in a letter which is to be sent through the immigration office for further review. The letter is usually sent & reviewed when one year of the immigration process of the sponsored person is completed. The service of auditing & sending the letter to the immigration office or required authorities is provided by us.

Initially, the letter includes the financial data of the company at which the sponsored person is working or by which (he/she is sponsored. It shows the financial performance of the relevant company after one year & also indicates the pathway. The information can be used to forecast future financial performance of the company as well as its directions.

Furthermore, the payroll of the business has to be included in the letter. It is usually required by the end of the business’s 12 months of active operation.Furthermore, the letter includes the capacity of the company to recruit more employees or plan expansion. So, overall, the letter shows the chances of the business growing.

In close conjunction with our Chartered Accountants, we efficiently& effectively provide both the services. We help to confirm the payroll provided to the employees & also help calculate the training expenditures. Moreover, we prepare the accountant’s letter with the relevant information and make it available to the required authority.