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For clients who aren’t immersed in business, sometimes the names of the taxes they pay can be confusing. Especially when so many of them start with PAYG, and when wage and salary earners may have only met personal PAYG Income Tax. So, here’s a little intro to all the PAYGs.
When you speak to us (or other accountants), you probably hear a lot about profits and margins. When you go to seminars or read about business, you probably get bombarded with different names for profits and margins. If you find all that hard to follow, this is a simple guide to profit terms, how they fit together, and how you can use them to run your business better.