How to Pay Yourself in a biz

Treating the company bank account like a personal ATM feels great, right up until it's NOT!In this episode, Aly G and Leethal Lee unpack the ways Australian biz owners can pay themselves from a company, why "just transferring funds" is not a strategy, and how a seemingly harmless habit can snowball into a very big later me problem.They walk through the options: salary and wages (think Single Touch Payroll, PAYGW, super, and why the "we'll sort it at year end" approach really doesn't fly anymore), versus dividends and drawings. They also break down what Division 7A actually is in plain English: has the company paid money or expenses on your behalf without the right tax being paid? Once you see it that way, the rules get a lot less scary.From there, it's about the questions that drive smart tax planning: what can the business genuinely afford after tax, suppliers, and growth? What mix of wages and dividends suits your situation? They also bust the "double tax" myth!Plus, the sneaky stuff that quietly ends up in loan accounts: private expenses on the company card, the family holiday that was technically a business trip, entertainment, perks, and all the things that can trigger Fringe Benefits Tax or worse.If you want to pay yourself properly and actually sleep at night, this one's for you. Press play, subscribe, share it with a fellow biz owner, and leave a review so more people stop learning these lessons the expensive way.Not so keen on listening or need more info, check this out:📖 Blog: How do i pay myself in a company + What is Division 7A💥Bold moves. Big wins. Leading the way.SHE MEANS BIZ IS PROUDLY BROUGHT TO YOU BY OUR SPONSORAll In Advisory | We’re here for you. For real! To help you and your business fly, and flourish, and so you can get back to doing what you do best - running your business. We’re a multi-award winning team of incredible humans (who just happen to be accountants). Basically… we’re all in. Are you?