Work Cover:
Work Cover is a levy paid to the government to cover your liability to your employees should they be injured while working. If you employ staff and the wages bill is over a certain limit (currently $7500 per year) you must register with the Victorian Work Cover Authority.
How to work out the cost:
Minimum premium payment is $148.50 to be paid annually (GST inclusive)
Source: Victorian Work Cover Authority
Wages:
What you pay your employees to work for you as an employee. Use award wages to find out how much you should be paying your employees.
How to work out the cost:
Use the following guides to work out how much to pay your employees;
Accommodation, Restaurants and Café sectors
Other sectors (find your wage fact sheet)
When employing staff you have to provide minimum level of superannuation for eligible employees, or pay the Superannuation Guarantee Charge to the Australian Tax office. An eligible employee is one who receives wages more than $450 in a month, with some exceptions.
How to work out the cost:
If your employee/s earn more than $450 a month, you must also contribute 9% of their wages in superannuation (on top of their wages).
E.g. Employee earns $1000 a month, superannuation payment from employer to employees superannuation fund is $90
Security, Fire and Safety:
In order to run your business safely, with a secure environment and in compliance with occupational health and safety standards you may need;
How to work out the cost:
Find out how much the security systems you want to put in place will cost (this is a personal choice for your business)