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incendio's avatar
incendio
2 years ago
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paying myself a wage

we are just a small business run with the 2 of us since 2015. we now start over aftewr moving interstate and would like to start paying ourself a wage, something we havent done in the past as accounting is just hocus pocus to me. we stay under the 75.000 turnover this time so we dont need to worry about GST.

How much per week can we pay ourselves without having to pay any taxes? 

  • Earl_HD's avatar
    Earl_HD
    2 years ago

    Hi incendio 

    Thank you so much for your post and welcome to the Community Forum! 

    I am sorry to hear that. I really appreciate your patience and understanding about this issue and I do apologize for the delayed response. With regards to this issue, we highly recommend consulting an accountant. 

    You can also visit this help article that will give you more information about: Paying yourself from your own company and Closely held employees

    Feel free to post again, we're happy to help.
    Regards,
    Earl

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  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    2 years ago
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    Hi incendio 

    Thank you so much for your post and welcome to the Community Forum! 

    I am sorry to hear that. I really appreciate your patience and understanding about this issue and I do apologize for the delayed response. With regards to this issue, we highly recommend consulting an accountant. 

    You can also visit this help article that will give you more information about: Paying yourself from your own company and Closely held employees

    Feel free to post again, we're happy to help.
    Regards,
    Earl

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we are just a small business run with the 2 of us since 2015. we now start over aftewr moving interstate and would like to start paying ourself a wage, something we havent done in the past as accounting is just hocus pocus to me. we stay under the 75.000 turnover this time so we dont need to worry about GST.

\n

How much per week can we pay ourselves without having to pay any taxes? 

","body@stringLength":"401","rawBody":"

we are just a small business run with the 2 of us since 2015. we now start over aftewr moving interstate and would like to start paying ourself a wage, something we havent done in the past as accounting is just hocus pocus to me. we stay under the 75.000 turnover this time so we dont need to worry about GST.

\n

How much per week can we pay ourselves without having to pay any taxes? 

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Hi incendio 

Thank you so much for your post and welcome to the Community Forum! 

I am sorry to hear that. I really appreciate your patience and understanding about this issue and I do apologize for the delayed response. With regards to this issue, we highly recommend consulting an accountant. 

You can also visit this help article that will give you more information about: Paying yourself from your own company and Closely held employees

Feel free to post again, we're happy to help.
Regards,
Earl

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Hi  

Thank you so much for your post and welcome to the Community Forum! 

I am sorry to hear that. I really appreciate your patience and understanding about this issue and I do apologize for the delayed response. With regards to this issue, we highly recommend consulting an accountant. 

You can also visit this help article that will give you more information about: Paying yourself from your own company and Closely held employees

Feel free to post again, we're happy to help.
Regards,
Earl

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