Tax & Business

Key Lodgment Dates

ABN – Australian Business Number – for registering an ABN for contractors/businesses.

Avoiding Tax & Consequences & Penalties

Basics for Business

Business Industry types/overview

Building & Construction

Business Activity Statements

Company dividends, franking credits, imputation system, Trans Tasmanhttps

Deductions for Businesses

Div7A, Division7A, Loans to directors, directors relatives and Unpaid present entitlements (UPE’s).

Employees & Employerscovers Employer overview; checklist for Contractor or employee?; Pay as you go (PAYG) withholding; Pre-filling; Workforce education news; Superannuation; Employment termination payments; Redundancy payments; Fringe benefits tax; Employee allowances; Labour hire firms; Non-profit organizations; For your employees; Workplace giving; Record keeping

Employee Tax Calculator

Expansion & other changes in your business

Fringe Benefits Tax – is a tax benefit provided by employers to employees.

Forms & Publications

GSTGoods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia

Home Based Business

International Tax – Australian Resident businesses doing business overseas (internationally) & Foreign Businesses doing business in Australia

Loans to directors, directors relatives, Div7A, Division7A,

Lodgment & Payment Date

Pays as you go withholding PAYG

Paying your tax

Payroll Tax – ( A state based tax therefore not issued by the ATO) – it is a tax payable by employers with payroll exceeding the payroll threshold currently set at $62,500 per month for the year ended 30.06.11 , for future years follow the link.

Rates & Calculators

Resident – for tax purposes when leaving Australia

Starting a Business

Superannuation – Employer Obligations & Salary Sacrifice where you agree to forego part of your future salary or wages in return for your employer providing benefits of a similar value.

Tax – taxes other than those imposed Federally by the Tax Office (ATO) include Payroll, Land Tax, Duties (Stamp Duty).

Taxable Payment Reporting – new system for construction industry from 1.7.12

Travel Costs – allowable if incurred in respect to producing assessable income, be aware of private use and the substantiation requirements!