Company Money vs. Your Money

When you’re an owner, a shareholder, or director of a company, it’s easy to blur the lines between your company as a “separate legal entity” and yourself as a person. It’s important to remember that company money cannot be used flippantly for personal transactions, as the funds belong to the company, not you. The Australian Tax Office requires that all […]

Payroll Tax: Pay It!

Account Daily’s article warns business owners of the increased penalties associated with avoiding payroll tax payments. Points to note from the article are as follows: Penalties to increase by 400% Penalties include jail time and fines of up to $110,000. Revenue NSW may ‘name and shame’ offending businesses. This information is to be made available to Fair […]