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| Would you like to know more about the Medicare Levy - What is the Medicare levy?
Medicare is the scheme that gives Australian residents access to health care. To help fund the scheme, resident taxpayers are subject to a Medicare levy. Normally, we calculate your Medicare levy at the rate of 1.5% .... read more about the Medicare Levy  |
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| Tax Tips for Small Business The Tax Office has some useful tips and information to help businesses start the new year on the right foot ....handy hints and information from the Australian Tax Office |
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| Choosing a tax accountant Whether you're an individual wanting to escape the hassle of doing your own tax return (as well as maximising your return) or a business requiring tax assistance, using a qualified tax professional makes sense. Depending on several factors - including turnover, whether you're a sole trader, company or partnership - what you need from your tax accountant will vary... why you should use a tax accountant
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| Business Activity Statements Businesses use an activity statement to report and pay a number of tax obligations, including Goods & Services Tax (GST), Pay as you go (PAYG) instalments, PAYG withholding and fringe benefits tax .....read more about Business Activity Statements (BAS)
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| Australian Business Number ABN The Australian Business Number (ABN) is an 11 digit identifier used for all business dealings with other businesses and the Australian Goverment ....Read more about Australian Business Number ABN
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| Tax File Number A tax file number (TFN) is a unique nine-digit number issued to individuals and organisations to help the tax office administer tax and other Australian Government systems. Only one TFN is issued to you during your lifetime, even if you change your circumstances ....Read more about Tax File Number (TFN)
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| Capital Gains Tax Capital gains tax (CGT) is the tax you pay on a capital gain. It is not a separate tax, just calculated as part of your income tax. The most common way you make a capital gain (or capital loss) is by selling assets such as real estate, shares or managed fund investments ....Read more about Capital Gains Tax (CGT)
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| Deductions Deductions are expenses you can claim to reduce your taxable income. These expenses are related directly to individuals earning an income or expenses related to running a business ....Read more about claiming deductions
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| Goods & Services Tax Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. Businesses do not actually bear the economic cost of the Goods & Services Tax. The cost of GST is to the final consumer, who can't claim GST credits. As a GST registered business, you'll need to put aside the GST you have collected so it can be paid when due ....Read more about Goods & Services Tax (GST)
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| Fringe Benefit Tax Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees instead of salary or wages ....Read more about Fringe Benefit Tax (FBT) |
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| Pay as you go PAYG |
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| Tax Tips & Tricks Many people wonder if paying for professional tax advice is worthwhile. But forking out for it can save you far more than it actually costs, when you take into account the whole array of tips the advisor can give you. On top of that, the fee can be taken from your (often much larger) tax return...find out what we're talking about |
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| From the Australian Taxation Office....  Download your small business tax calendar |
