GST - GST is a broad-based consumption tax imposed on most goods and services in Australia. As a business owner, you are required to collect GST on your taxable sales and then pay it to the ATO. The GST rate is currently set at 10% of your sales. By paying GST, you contribute to the funding of public services and infrastructure in Australia.
PAYG Tax Withholding - Pay As You Go (PAYG) tax withholding refers to the tax deducted from payments you make to your employees and contractors. As a business owner, you are responsible for deducting the correct amount of tax from these payments and then paying them to the ATO. The withheld tax helps individuals meet their income tax liabilities throughout the year.
Superannuation Payable - This is the mandatory contributions that you must make on behalf of your employees towards their retirement savings. These contributions need to be deposited into a superannuation fund or account nominated by the employee.
Tax Savings - This is the amount you have in your nominated tax savings account. The goal is that the net should read Zero. That way you know you have enough money at hand when time comes to pay
Unreconciled - This is the number and value of transactions in and out of your Xero file which are not reconciled. By getting this sorted you will be able to get a clearer view of your actual outstanding obligations