PAYG Reporting for Small Business

Small business owners often get confused as to how to report PAYG tax for themselves and their employees. We can assist you to make sure you are complying with the tax law, but also to plan and anticipate your own personal tax liability as a business owner.

PAYG withholding for your employees

If you employ staff, you need to withhold tax from their wages and report it to the ATO through Single Touch Payroll each pay run. We help you set up payroll correctly, check your withholding amounts, look after super guarantee obligations and make sure your end of year finalisation is done on time.

PAYG instalments for business owners

As your business grows, the ATO will usually put you into the PAYG instalment system. This means paying tax on your business and investment income during the year instead of one big bill at tax time. The amounts the ATO suggests are based on last year, so they are not always right for this year. We can review your instalments and vary them where appropriate, so you are not paying too much or setting yourself up for a nasty surprise.

How we help

• Payroll and Single Touch Payroll setup and reviews
• PAYG withholding and super guarantee compliance
• Reviewing and varying PAYG instalments
• Planning ahead for your personal tax as a business owner
• Contractor versus employee advice

Based in Nunawading, we help small business owners across Melbourne’s eastern suburbs stay on top of PAYG. Book a free 30 minute consultation to get started.