How to pay yourself as a business owner

As a small business owner, it’s important to pay yourself a regular wage – and it’s just as important to make sure you pay the right amounts of tax and super too.

Here’s your quick-start guide to paying yourself in your business.

Step 1: Start with your business structure

The way you pay yourself depends on the structure of your business. We have outlined the general approach for paying yourself under common business structures.

Sole trader

You can pay yourself by making personal withdrawals from the business. All these withdrawals are counted as part of your profit, which you’ll be taxed on at the end of the financial year. With this in mind, ensure you have money available to pay your taxes when they are due.

https://www.smallbusiness.wa.gov.au/blog/how-pay-yourself-business-owner 



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