Explained simply BAS GST PAYG Withholding

If your confused or don't really know what GST BAS PAYG Withholding are and you are a business owner, thinking about starting a business or becoming an entrepreneur in Australia then this video aims to explain these terms simply in one picture.
More info and templates www.solidpartners.com.au

[@justindavis2711]

So many other videos failed to explain this properly. Thank you

[@fernandoprieto5683]

Thank you for watching appreciated

[@bellagetsbold]

Thanks so much! Would love to see some vids of setting up systems to separate tax payments + automate these tax processes via MYOB, Xero or other means to make tax day as painless as possible 🙌🏼😆

[@jamie.miller.inspiring]

Extremely useful, thank you!

[@LovingGBC]

Thanks Fernando. This video was really helpful!

[@fernandoprieto5683]

Hi Lex thank you for the comment. What other type of content would you like and how detailed would you like us to go into it?

[@earthrooster1717]

Is there GST on profits of futures trading

[@williamrodas2365]

thanks,

[@freddiebeam7225]

Good video but the music is super annoying. Maybe mix another with lower volume

[@prasadnilugal4691]

I have done in demo MYOB

[@colorfuljosh]

Great video, thanks. One question: doesn't this mean you are paying the PAYG tax once in the BAS and then again during the tax return?

[@fernandoprieto5683]

I'm assuming you're referring to PAYGW which is the tax withheld on employees wages. If so, then this is only paid once in the BAS lodgements. If an employee earns $1000 a week and the PAYGW (tax component) is $200 then you will pay the employee $800 and the $200 is remitted on their behalf to the ATO via the BAS. It still only costs the business $1000 a week, which reduces the profit. Businesses only pay tax on profits.

[@RocielDimaculangan]

Very bad audio