Taxation

Federal taxes

Businesses are subject to several various Australian government taxation and administrative requirements.

Australian business number

The Australian Business Number (ABN) is a single identifier for all business dealings with the tax office and for dealings with other government departments and agencies.

Capital gains tax

A capital gain or capital loss is the difference between what it cost you to get an asset and what you received when you disposed of it. You pay tax on your capital gains. It forms part of your income tax and is not considered a separate tax, although it is generally referred to as capital gains tax (CGT)

Excise duties

Excise duty is a tax on alcohol, tobacco, fuel and petroleum products (including gaseous fuels) produced or manufactured in Australia. Collectively, these products are referred to as excisable goods.

Goods and 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.

Pay as you go witholding

Pay as you go withholding is a system for withholding amounts from payments you make to employees and businesses so they can meet their end-of-year tax liabilities.

Tax file number

A tax file number (TFN) is a unique nine-digit number we issue to individuals and organisations to help us administer tax and other Australian Government systems.

You are only issued one TFN to you during your lifetime, even if you change your circumstances.

Employers superannuation

You must make super contributions for an employee if you're considered an employer for super guarantee purposes and your employee is entitled to the super guarantee.

You also have to pay super for contractors if the contract is wholly or principally for their labour, and for employees who are temporary residents of Australia.

If you're a sole trader or partner in a partnership you don't have to pay super for yourself, but you can make super contributions as a way of saving for your retirement.

Fringe benefits tax

Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees' associates in place of salary or wages.

International tax

Information on international tax issues for residents and non-residents.

Wine equalisation tax

The wine equalisation tax (WET) is a value-based tax on wine consumed in Australia. WET applies at 29% of the value of the wine at the last wholesale sale (before adding GST).


Was this page useful?

We can't respond to any comment made here. If you need a response, please use our contact page.

Page last updated 21 December 2016

Provided by:
Department of State Development
URL:
https://www.sa.gov.au/topics/business-and-trade/taxation/federal-taxes
Last Updated:
21/12/16
Printed on:
23/08/17
Copyright statement:
SA.GOV.AU is licensed under a Creative Commons Attribution 3.0 Australia Licence. © Copyright 2016