Tag: business

The tax‑free threshold affects PAYG withholding setup for new employees because it changes how much tax is withheld from each pay cycle and how soon they start paying tax on their income. When you get this right from a new job, your employee’s take home pay better matches their actual tax obligations across the financial…

What ‘tax deductible’ really means for small business owners is that certain business expenses you pay can be used to reduce your taxable income, so you pay less tax on your profit. When you understand how tax deductions work, you can make better decisions about what you spend money on in your business. Instead of…

Setting up a new Pty Ltd in Xero: chart of accounts, tracking and user access tips is a key step in getting your business structure and software working together from day one. When you move from sole trader to a Pty Ltd company, you are shifting to a proprietary limited company that is a separate…

Bookkeeping tasks you must complete before your business goes into liquidation help you stay in control when your company is unable to pay its debts and the winding up process becomes unavoidable. Liquidation is the process of closing a company’s business, selling assets and using the cash received to pay creditors as far as possible.…