Even though you might be the sole Director and Shareholder of the company.  The money in the company bank account is not yours to do what you want.  There are tax consequences. 

Getting money out of the company bank account with the least amount of tax payable is the challenge.  Some of the options are:

• Salary & Wages: You will need money to pay for your lifestyle.  Work out how much you need and how much the company can afford and pay this amount to yourself consistently whether it be weekly, fortnightly, or monthly.
• Dividends:  This is a good option to pay yourself extra, ensuring the company has the available cash and you have paid company tax.  You can use the company tax credits (Franking credits) to reduce your tax position.
• Director Drawings: This has to be the worst option. If you use your company bank account to pay for personal expenses, you are using pre-tax dollars.  These “pre-tax dollars” will be considered after-tax dollars when calculating potential tax liability.  
• 

Directors Loans:  When you borrow money from the company you are required to have a loan agreement with the company.  This is known as a Division 7A loan.  The ATO has a deemed interest you are to charge. This interest is income to the company however not tax-deductible to the individual.  This is not a good option.