Australian Tax

Posted by Designer on Mar 31, 2015 in Post | 0 comments

How does Tax System work in Australia?

In Australia the individuals and companies pay variety of taxes and charges at multiple levels ay state, federal and local levels.

Amongst the significant ones is the income tax that is collected by the government through the ATO (Australian Taxation Office).

Then there is the GST (Goods and Services Tax) that is levied on the transactions that are a part of the production process.

What is Payroll Tax?

In Australia payroll tax rates and thresholds apply in its various states and territories. This tax is levied on the employers when the wages (paid/ payable) to their employees exceeds the threshold amount.

What is Fringe Benefit Tax?

This is the tax levied by ATO on fringe benefits which are usually the non-cash benefits.

Can IPS guide regarding Australian Taxes?

Please feel free to contact IPS via email or phone regarding any australian tax related query.