Taxes explained


There are a number of different taxes that can apply to your business, depending on your location and business activity.

  • Capital Gains Tax
    Capital Gains Tax (CGT) is the tax that you pay on any capital gain you include on your annual income tax return.

  • Excise duties
    Excise duty is a tax levied on certain types of goods produced or manufactured in Australia.

  • Fringe Benefits Tax
    Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee or the employee's associate.

  • Goods & Services Tax
    The Goods and Services Tax (GST) is a broad-based tax of 10 per cent on the sale of most goods and services and other things in Australia.

  • Income tax for business
    Federal income tax is levied on the taxable income of a person or a business.

  • International tax
    Residents and non-residents have different tax rates, which is why you need to find out what international tax obligations apply to you.

  • Land tax
    Land tax is an annual state government tax payable by the owner of land.

  • Pay As You Go (PAYG) withholding
    Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes.

  • Pay-roll tax
    Pay-roll tax is a state tax on the wages paid by employers. It is calculated on the amount of wages you pay per month.

  • Rates
    Rates are property taxes charged by local government on properties in their municipal area.

  • Simplified Tax System
    The Simplified Tax System (STS) is an alternative method of determining taxable income for eligible small businesses with straightforward financial affairs.

  • Stamp duty
    State and territory governments impose taxes on a range of paper and electronic transactions.

This information is brought to you by business.gov.au and Cairns Chamber of Commerce
business.gov.au - Your business gateway to government information and services



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