Hi, in terms of paying myself for a new company whats the best route as I've basically entered the salary as national minimum wage but income is very low and cant afford to pay full salary. Do I run the payroll report with the full salary and only pay myself what I can afford to take out of the company and leave the credit balance in salaries payable? Thanks
Hi Daniel, I'm sure you've probably had this question answered since. And I apologise for the delay in replying as my notifications were switched off for comments. But my advice would be to speak with your accountant, they will definitely be able to help you on this one.
Hi, Please use this link for reference. www.ato.gov.au/business/payg-withholding/payments-you-need-to-withhold-from/payments-to-employees/allowances-and-reimbursements/withholding-for-allowances/
Hi, in terms of paying myself for a new company whats the best route as I've basically entered the salary as national minimum wage but income is very low and cant afford to pay full salary. Do I run the payroll report with the full salary and only pay myself what I can afford to take out of the company and leave the credit balance in salaries payable?
Thanks
Hi Daniel,
I'm sure you've probably had this question answered since. And I apologise for the delay in replying as my notifications were switched off for comments. But my advice would be to speak with your accountant, they will definitely be able to help you on this one.
Do you know if Laundry and Uniform allowance are exempt from super and PAYG?
Hi, Please use this link for reference. www.ato.gov.au/business/payg-withholding/payments-you-need-to-withhold-from/payments-to-employees/allowances-and-reimbursements/withholding-for-allowances/