Home – New Forums Money matters Paying Sole Director, Company Expenses Reply To: Paying Sole Director, Company Expenses

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yourvirtualboard, post: 122339 wrote:
Safety clothing is another item that’s also legit from a company perspective.

As for payment – wages / salary would be the normal way; these don’t have to be at any fixed intervals. Just remember even as the Director you are still an employee and the Company would have to pay super and withold tax on your wages / salary as well which would usually be paid over to the super fund and ATO quarterly.

Also with a company make sure you have workers comp insurance in place as well.

Ok great,

RE: Workers comp:

Under the South Australian Workers Rehabilitation and Compensation Act 1986 (the Act), all employers must register with WorkCover within 14 days of employing workers, unless you are exempted. From 1 July 2012 if you pay your workers less than $11,597* in the 2012-2013 financial year, you are exempted and are therefore not required to register and pay a premium unless a claim is lodged by one of your workers. However, if you cross this $11,597* threshold, you must register with WorkCover within 14 days.

I’ll wait until i hit that threshold i think, the less money coming out of the account in the next few months the better :)