Untangle the complex knot of all your tax commitments.
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.
Goods and Services Tax (GST) is a broad-based tax of 10% on most goods, services and other items sold.
Under the GST system, a registered business must:
GST is reported to the Australian Tax Office through lodgment of a Business Activity Statement with the net GST position payable or refundable.
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.
Yes! There are a number of exemptions such as:
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.
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.
Parent and subsidiary entities, and entities with common Directors or employees can be grouped for payroll tax purposes.
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