Compliance is a cornerstone of Southgate’s services and systems. This includes compliance
with ATO legislation, regulations and rulings, an employer’s salary packaging policies
and our own processes and customer service policies. We achieve this superior level
of compliance through well-designed training and IT development. The more important
a compliance aspect is, the more we develop automated systems to ensure 100% accuracy
and reduce human error risks. Automated compliance is supported by rigorous training
to ensure our staff are aware of the reason behind specific processes or procedures.
The core training undertaken by our staff highlights common compliance issues
within the salary packaging industry, so that we may assist clients in
eliminating any compliance risks. Many widespread compliance risks with novated
lease motor vehicles are not considered or addressed by other salary packaging providers, financiers
and alike. For example, issues such as ineligible vehicles and lease residuals outside
of ATO guidelines are prevalent in the wider salary packaging industry, but have
been prevented in Southgate’s systems due to smarter system design and a recognition
and understanding of these issues and the associated compliance risks.