Tax Facts – Activity StatementBusinesses use activity statements to report and pay a number of tax obligations, including GST,...
Tax Facts – Australian Business NumberThe Australian business number (ABN) is a single business identifier that allows businesses to deal...
Tax Facts – Capital AllowancesDeductions for the decline in value of depreciating assets are available under the Uniform capital...
Tax Facts – Capital Gains TaxCapital gains tax (CGT) generally applies to CGT events that happen to CGT assets acquired...
Tax Facts – First Home Super SaverFrom 1 July 2017, eligible individuals can make voluntary contributions to their superannuation account under...
Tax Facts – Fringe Benefits TaxFringe Benefits Tax (FBT) is paid on particular benefits employers provide to their employees or...
Tax Facts – Fuel SchemesFuel schemes provide credits and grants to reduce the costs of some fuels or provide...
Tax Facts – Goods and Services TaxGoods and services tax (GST) is a tax of 10% on most goods, services, and...
Tax Facts – ImputationThe imputation system provides a way for Australian and New Zealand corporate tax entities that...
Tax Facts – Income TaxIncome tax is levied on taxable income, which is calculated as assessable income less allowable...
Tax Facts – Loans to ShareholdersAdvances (or loans), including the forgiving of debts, made by a private company to a...
Tax Facts – Medicare LevyThe Medicare Levy is a tax payable by Australian residents to cover health care charges....
Tax Facts – Paid Parental LeaveThe government-funded Paid Parental Leave scheme provides financial support for parents to take up to...
Tax Facts – PAYG InstalmentsPay As You Go (PAYG) Instalments is a system for paying instalments during the income...
Tax Facts – PAYG WithholdingPay as you go (PAYG) withholding is a system for withholding amounts from payments to...
Tax Facts – Rates and CalculatorsThe Australian Taxation Office (ATO) provides a variety of rate tables, tax calculators, and other...
Tax Facts – Rental PropertiesTop 10 tips to help rental property owners avoid common tax mistakes Whether you use a...
Tax Facts – Reportable Tax PaymentsSome business in certain industries need to report to the ATO the payments made to...
Tax Facts – Small Business Entity ConcessionsSmall businesses with an annual turnover of less than $10 million may qualify for a...
Tax Facts – State TaxesPayroll tax Payroll tax is a state tax on the wages paid by employers when the...
Tax Facts – Superannuation Contributions for High Income EarnersAdditional tax on super contributions at the rate of 15% is imposed on individuals whose...
Tax Facts – Superannuation GuaranteeIn addition to employees’ salaries and wages, employers are required to pay superannuation contributions on...
Tax Facts – Tax Payer PenaltiesTaxpayers who do not meet their tax obligations may face penalty or interest charges. To...
Tax Facts – Wine Equalisation TaxWine Equalisation Tax (WET) is a tax on wine levied at 29% of the taxable...
