Payroll Tax

Yet another tax which is so often overlooked, in fact, many business owners are oblivious to its existence.

Or what they think is Payroll Tax is actually Pay As You Go Withholding (“PAYGW”) which it most certainly is not!

Payroll Tax is a State-Based tax, completely separate to, and applies over and above, the various Federal Taxes most are familiar with.

It used to be a tax that only applied to large businesses with an extensive workforce.

Now, many are surprised at its application to what might be considered modest business enterprises.

There is no escaping Payroll Tax either. The State Revenue Offices are very proactive on the audit front (spurred on by State Governments desperate for extra revenue, especially in WA given the GST distribution controversies).

And the State Revenue Offices are armed with all the information you report to the ATO (there is a deep information sharing arrangement).

So let’s get on the front foot, ensure you are complying with your obligations before penalties and interest can apply, and while there are limited payroll tax minimisation and planning opportunities, there are still some things you can do to ensure you aren’t overpaying unnecessarily.

Accounting & Tax

What our customers say

We admit we were sceptical, but we are very glad we overcame our hesitations and joined the CapitalQ Community

We had been with our previous Accountant for years, literally 20 plus years, and we thought things were fine, things worked the way they had to and we thought we were happy. So when CapitalQ presented to us we were very sceptical. We hate dealing with tax and accounting matters, and we couldn’t think of anything worse than making a change. Boy were we wrong because the things CapitalQ have implemented have improved the way our business operates out of sight, and made life so much easier for us. We spend much less time on our business administration and we have Kapil and CapitalQ to thank for that!

John and Sina Sceresini

Endeavour Fabrications

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