Tax Compliance

Tax Compliance

Registrations and Payments

Let us assist you in managing your compliance requirements and keep you on track with your reporting and payment obligations:

ABN
BAS
IAS
GST
CGT
PAYGI
PAYGW
FBT
Fuel Tax
WET
LCT
ATO
ABN

If you have chosen to operate your business through a partnership, company or trust, you will need a separate TFN. You can apply for a TFN when you register for an ABN.
You do not have to have an ABN, but having an ABN will:

  • Make it easier to register for GST and other business tax registrations, such as PAYG withholding
  • Avoid having amounts withheld from payments to you – businesses must withhold 49% of any payments they make
    to you unless you quote an ABN
  • Each entity (sole trader, partnership, company or trust) receives one ABN, regardless of the number of commercial
    activities or enterprises it undertakes.

Apply for an ABN

 

BAS
Business Activity Statements (BAS)

A BAS might be required to lodged either quarterly or monthly and is used to report the tax obligations of your business including GST, FBT, PAYG withholding, PAYG instalments & fuel tax credits.

Useful Links

Preparing your Business activity statement (BAS)

Common BAS errors - Business Portal

Smart Tips – Coming Soon

 

IAS
Installment Activity Statement

Smart Tips – Coming Soon

 

GST
Goods and Services Tax

You must register for GST if you are carrying on a business or enterprise, and any of the following apply:

  • your current or projected annual GST turnover is $75,000 or more ($150,000 or more for non-profit organisations)
  • you provide taxi travel
  • you want to claim fuel tax credits.

If your annual GST turnover is below $75,000, you can choose to register for GST.

Smart Tips – Coming Soon

 

more info: ATO

CGT
Capital Gains Tax
  • Capital Gains Tax, calculations and advice
  • Small Business Concessions, calculation and advice

Smart Tips – Coming Soon

 

 

PAYGI
PAYG Instalments

Smart Tips – Coming Soon

 

 

more info: ATO

PAYGW
Pay As You Go Withholding

You need to register for PAYG withholding if your business makes payments you must withhold amounts from. For
example, if your business:

  • makes payments of salary, wages, commissions, bonuses or allowances to an individual as an employee (including
    yourself if you operate your business through a company or trust)
  • makes payments to you as a director
  • makes payments to contractors under a voluntary agreement or labour hire arrangement, or payments that are
    specified – for example, performing artists performing in promotional work
  • withholds 49% from payments to suppliers because they have not quoted their ABN or shown they do not have to
    quote it
  • makes payments of dividends, interest or royalties to foreign residents, where foreign resident withholding tax applies.
    For example, royalty payments to a franchisor who is a foreign resident.

Smart Tips – Coming Soon

 

more info: ATO 

FBT
Fringe Benefits Tax

Fringe Benefits Tax, calculation & return

Smart Tips – Coming Soon

 

 

more info: ATO

Fuel Tax

Fuel Tax Credits

Smart Tips – Coming Soon

 

 

more info: ATO

WET
Wine Equalisation Tax

Smart Tips – Coming Soon

 

 

more info: ATO

LCT
Luxury Car Tax

Smart Tips – Coming Soon

 

 

more info: ATO

ATO
Australian Taxation Office
  • Assistance with ATO investigations and dispute
  • ATO audit assistance

Smart Tips – Coming Soon

 

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