Payroll Tax - CapitalQ

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

Logo for Kim Fewster

Relieved me of a huge burden, and now keeping my affairs in order and up to date

I came to CapitalQ having experienced substantial business difficulties with my business partner and having been the loser from an Accountant who took sides. I had substantial overdue obligations and the ATO were closing in. I was also highly fearful of my unknown tax position with substantial tax debts likely. CapitalQ went above and beyond to address all issues within my affairs, to bring me entirely up to date with the ATO, and to ensure my resulting tax bill was barely a scratch on what I had feared. They are now keeping my affairs up to date and in order and my stress levels are non-existent relative to those pre-CapitalQ times.

Kim Fewster

Fewsters Farm Honey

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