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    JuniorC
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    Hi just wanted to ask. I just started the company a couple of days ago, and am a sole director, secretary. What are my payg requirements as i am only doing the business by myself and the business is so new? Thanks

    #1167195
    Past-Member
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    A chat with your accountant would be a good idea.
    But, why don’t you call the ATO and have a chat with them first?
    They can be very helpful.

    ATO Business’ enquiries
    Phone us on 13 28 66
    An after-hours call back service is now available for small businesses from 6.00pm to 9.00pm (Australian Eastern Standard Time), Monday to Thursday, except national public holidays. To arrange a call back, please access the Small Business Assist online booking form or alternatively phone us on 13 28 66 during normal business hours.

    https://www.ato.gov.au/About-ATO/About-us/Contact-us/Phone-us/

    #1167196
    KP2014
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    Hi there,

    There are two ways of taking profits out of a company moving forward, once is through declaring wages (which will mean you will need to register to PAYG Withholding) or the other option is to pay dividends to the shareholders (i imagine you are also the sole shareholder). Dividends will only be an effective method if there have been taxes paid in the company previously.

    Cheers

    Krishan

    JuniorC, post: 193665 wrote:
    Hi just wanted to ask. I just started the company a couple of days ago, and am a sole director, secretary. What are my payg requirements as i am only doing the business by myself and the business is so new? Thanks
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