In this episode, I will share with you some of the common challenges that I see business owners, sole traders and self-employed clients dealing with. This includes understanding what money in their business is their own personal money to spend or take out as a salary, what money needs to be kept in the business to cover business expenses and how much money needs to be put aside or withheld for the taxman. Company base tax rates will vary depending on your turnover and are subject to change every financial year.  Income tax calculator | Use this calculator to quickly estimate how much tax you will need to pay on your income. https://paycalculator.com.au/  Episode Sponsor  | This episode is brought to you by More Time Financial a financial planning company that is on a mission to help young Australians make smarter decisions with money by providing real-life financial advice, coaching and financial education. Book in for a free Initial 30-minute consultation - https://moretimefinancial.com.au/get-started/  Disclaimer In preparing this podcast episode, the contributors have not taken into account any particular person's objectives, financial situation or needs. Before acting on this information, you should consider its relevance to your personal circumstances.

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