Taxation
Taxation
Understanding taxes and meeting your taxation obligations can save you money. By paying the right amount you can avoid late payment penalties. You may also be entitled to exemptions.
Tax concessions for small business entities
From 1 July 2007 eligible small business entities can access a number of tax concessions.
Superannuation
Running a business or employing people is likely to involve superannuation obligations. Most of your employees, whether full-time, part-time or casual, will be covered by the superannuation guarantee legislation.
Stamp duty
State and territory governments impose taxes on a range of paper and electronic transactions.
Reporting activity statements
You make payments and report your obligations under the tax system using an activity statement.
Register for Pay-roll Tax
Pay-roll tax is a state tax on the wages paid by employers. It is calculated on the amount of wages you pay per month.
Record keeping
Good business records help you manage your business and make sound business decisions.
Rates
Rates are property taxes charged by local government on properties in their municipal area.
Pay-roll tax
Pay-roll tax is a state tax on the wages paid by employers. It is calculated on the amount of wages you pay per month.
Pay-roll tax
Pay-roll tax is a state tax on the wages paid by employers. It is calculated on the amount of wages you pay per month.
Pay As You Go (PAYG) withholding
Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes.
Pay As You Go (PAYG) withholding
Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes.
Land tax
Land tax is an annual state government tax payable by the owner of land.
International tax
Residents and non-residents have different tax rates, which is why you need to find out what international tax obligations apply to you.
Income tax for business
Federal income tax is levied on the taxable income of a person or a business.
Goods & Services Tax
The Goods and Services Tax (GST) is a broad-based tax of 10 per cent on the sale of most goods and services and other things in Australia.
Fringe Benefits Tax
Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee or the employee's associate.
Fringe Benefits Tax
Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee or the employee's associate.
Excise duties
Excise duty is a tax levied on certain types of goods produced or manufactured in Australia.
Capital Gains Tax
Capital Gains Tax (CGT) is the tax that you pay on any capital gain you include on your annual income tax return.
Ending your business
You must tell the Tax Office if you have ceased trading or your business has been sold. You must also cancel your various registrations, such as Australian Business Number; Goods and Services Tax; Luxury Car Tax; Wine Equalisation Tax; Pay As You Go; or Diesel and Alternative Fuel Grant Schemes.
Paying your taxes
Paying your tax online is a fast, convenient and secure way to do business. Find out how to pay your taxes, and which methods of payment are available.
Register for a Tax File Number (TFN)
A Tax File Number (TFN) is a unique number issued by the Tax Office to individuals and organisations.
Record keeping and reporting
Under tax law, you must keep records of all your business transactions. You're required to keep records relating to income tax, GST, payments to employees and business payments. Activity statements are used to report and pay your tax obligations, including PAYG, FBT and GST, and to pay deferred company and superannuation fund instalments.
Tax deductions
Deductions for costs incurred in running your business are allowable, provided the expenses are not of a private, domestic or capital nature.
Register for Pay As You Go (PAYG) withholding
Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes.
Taxes and superannuation for your workers
If your business has employees or contractors then you'll need to know how to meet your tax obligations.
Register for Goods & Services Tax (GST)
The Goods and Services Tax (GST) is a broad-based tax of 10 percent on the sale of most goods and services and other things in Australia.
Taxes explained
There are a number of different taxes that can apply to your business, depending on your location and business activity.
Register for Fringe Benefits Tax (FBT)
FBT is a tax payable by employers for benefits paid to an employee or the employee's associate in place of salary or wages.
Register for an Australian Business Number (ABN)
The Australian Business Number (ABN) is a unique 11 digit identifying number that businesses use when dealing with other businesses.
How to register
A range of taxes affect small business, so before you begin operating you'll need to know what you must do to comply with government taxation regulations.
Determine the status of workers
The status of your workers for tax purposes is important, as employees and contract workers involve different obligations.
Land tax in your state or territory
Contact the Revenue Office in your state or territory for information on land tax.
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