TAXATION FOR COMPANIES
Whether you are an Australian or International business operating in Australia, tax related lodgement and payments should always be a priority to ensure your business meets the Australian Taxation Offices compliance. By partnering with Stones Sharp Certified Practising Accountants we help make the process of paying your business taxes and meeting the necessary compliance simple.
Not only does partnering with our Certified Practising Accountants ensure that you remain in good standing with the Australian Taxation Office and the relevant state government revenue offices, but it also helps you to maximise the benefits you receive by taking advantage of any tax concessions that you and your business are entitled too. No matter what you and your business taxation obligations and frequency of lodgements, Stones Sharp Certified Practising Accountants are on hand to make the process more efficient and add value at every opportunity.
Tax concessions are available to Australian businesses in many circumstances that may apply to your operations. These concessions can be found on major taxes such as Company (income) Tax, Capital Gains Tax (CGT), Goods and Services Tax (GST) as well as other Government State and Territory Government taxes including payroll tax, land tax and fringe benefits tax.
MAKE THE MOST OF YOUR TAX CONCESSIONS
If you are a small business, you may be eligible for small business CGT concessions. Many businesses are also eligible for certain tax credits on GST if you purchased business supplies inclusive of GST. Your businesses may be eligible to pay payroll tax depended on the level of your businesses assessable employee remunerations and dependent on the Payroll Tax exemption threshold and Payroll Tax rate in your particular State or Territory. If you have multiple entities your businesses may also be subject to the Payroll Tax grouping provisions.
If you are a non-resident company operating within Australia, consulting a tax practitioner is especially important as you may be taxed on your Australian income if your business meets certain criteria. The applicable tax rate for non-residents is dependent on how you have structured your business. Your business may also be required to register for GST and lodge Business Activity Statements monthly, quarterly or annually. Stones Sharp Accountants can assist in all aspects of GST for your business including registration and all matters related to the differed GST system. You may also be subject to CGT on any assets you gain and use while operating in Australia.
No matter whether you are a small business, large business or international non-resident business, we encourage you to contact Stones Sharp Certified Practising Accountants to assist in structuring, registration processes, to maximise your tax concessions, keep you and your business compliant and to help you achieve your personal and business goals and financial success.