Do you need to register for WA Payroll Tax?
Business owners can be so occupied with running their business and hiring staff and most often miss out important thresholds that they need to be aware of.
In the past we have seen businesses missing the threshold to register for WA Payroll Tax simply because they do not realise that it is their responsibility as an employer to ensure they register, lodge and pay Payroll Tax on time.
In recent years WA Payroll Tax has become more complicated as there were several changes made to various thresholds and tiers as well as the tax rates.
To put it simply, if your business pays a monthly wage of more than $83,333 and are in WA, then you may be required to be registered for WA Payroll Tax.
Registering for payroll tax can be done via us, and once registered, you will receive information of the registration details and lodgement frequency. At the end of each financial year, you are required to prepare and lodge an annual reconciliation to calculate the annual liability – this is to ensure you pay the right amount of payroll tax.
If your business has grown considerably recently and have employed more staff, you may want to work out whether your business is liable for WA Payroll Tax. At Aston Accountants we have staff trained to assist you: from working out whether WA Payroll Tax applies, to registration and lodgement of the payroll tax, as well as the annual reconciliation process. This ensures that you are fully compliant with the current requirements.