GST, payroll tax and stamp duty come with their own complicated set of laws. It’s important to understand all of your legal obligations and what claims you are entitled to, so that you’re only paying what you have to.

Let's talk about GST & Other Taxes

  • What is GST?

    Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold.

  • How does the GST system work?

    Under the GST system, a registered business must:

    1. include GST in the price of sales
    2. claim credits for the GST included in the price of their purchases

    GST is reported to the Australian Tax Office through lodgment of a Business Activity Statement with the net GST position payable or refundable.

  • Who must register for GST?

    If your business turnover is $75,000 or more, you must register. Non-profit organisations must register after a turnover of $150,000 or more.

  • Are there exemptions from paying GST?

    Yes! There are a number of exemptions such as:

    • Exemptions on low-value imports
    • GST on the sale of a going concern
    • GST-free supplies
    • GST on transactions with consolidated group entities

  • Can fringe benefits form part of a tax effective salary package?

    Fringe Benefits Tax is payable on non-cash benefits provided to employees. There are a number of fringe benefits that can form part of a tax-effective salary package, including living-away-from-home allowances, relocation costs, in-house benefits, and motor vehicles. The benefits from salary packaging have reduced over time, so careful consideration needs to be taken here.

  • Do wages I pay in other States affect my payroll tax liability?

    Payroll tax is a monthly tax. It is levied if monthly wages exceed a tax-free limit. When paying wages across multiple States, the tax-free limit is apportioned across the different States. You will need to register for payroll tax in each State where wages exceed the tax-free threshold.

  • If I own more than one company, will they be grouped for payroll tax purposes?

    Parent and subsidiary entities, and entities with common Directors or employees can be grouped for payroll tax purposes.

"Camphin Boston have been our accountants and tax advisors for over 31 years. They have seen our business expand from $15 million turnover to over $380 million and throughout that period have provided accurate and timely advice in all matters relating to accounting, tax, superannuation and business consulting.

The Camphin Boston team are true to their motto... they always simplified the complex issues like restructuring the business, expanding into new markets, R & D, tax planning etc and have always produced a quality result on time... every time.

Greg and his team have always been proactive when we need to develop business strategies, deal with business and tax issues and look at more efficient ways to run our business. They always have solutions to our business needs and we value their input."

- David and Catherine Harris

"Our group of companies have used Camphin Boston for all our specialist accounting needs for more than 25 years.

Our group of companies is diverse and includes a Property Group, a Sporting Apparel Group and a Marketing Company. Geographically, in addition to Australia, our operations extend to companies in New Zealand, China and Hong Kong.

We have always found the advice given by Camphin Boston to be timely and precise.

An indication of the professional service is exemplified in that we have all of our annual returns, including taxation returns and including the audit of one company completed within 30 days of the end of the financial year, each and every year."

- Tony Magnus

"I had a roundabout of accountants over a number of years. I then met Mark and his team and have been with them for the last 15 years. They provide consistently excellent service. Their work is accurate and responsive. Above all, Mark and his team provide thoughtful strategic business advice that goes beyond compliance."

- David Goding