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2nite
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I’m a financial advisor. Give me a call on 0416 266 059. My name is Damien.

Now in regards to pay in yourself a wage. Why would you want to do that?

Why not just pay profits to your wife as a wage? Technically, your wife started a business not you and your wife because by the sounds of things, she’s a sole trader.

Yes you can pay yourself a wage with payslips, etc but why would you want the extra admin headache for? Unless your profits are less than $40k whereby you can split the wages and pay next to nothing in tax, then I wouldn’t suggest it.