Navigating the Regulations of Australian Commercial Taxation

Wetherill Park tax accountant

The corporate tax on companies with an annual turnover of less than AUD 50 million is 27.5%, and for companies with an annual turnover more significant than AUD 50 million, it is 30%. Clearly, it concerns very large amounts of money, and going through the process of commercial taxation involves a lot of careful work. It is a subject matter that must be thoroughly examined and understood to run a business successfully.

When considering all the taxation that has an impact on your business, many components of it emerge, such as:

1. The Goods and Services Tax (GST)

In Australia, the standard GST rate is 10%. If your business has a GST turnover of AUD 75,000, it must be registered, and returns must be filed quarterly. If the GST turnover is AUD 20 million or more, returns are filed monthly.

2. The Australian Payroll Tax

For every person employed, business owners must pay 9.5% of their gross salary to the social security and unemployment insurance fund, be it as a trust or as a sole trader. Fringe benefits that are provided to employees are taxed at a rate of 46%. Employers are also required to withhold a payroll tax that is due on workers’ wages at an average of 5.5% (depends on the local authority).

3. Withholding Tax

For foreigners that invest in Australia, the good news is that subsidiary business that pay dividends to parent companies are exempt from withholding tax. 

4. Corporate taxation transparency

Companies that earn more than AUD 100 million annually must publish an annual report containing income figures.

Clearly, tax legislation is complicated, and hiring the help of a professional such as a tax accountant from Wetherill Park can make it less hectic for you! 

Why You Should Hire An Uncontested Divorce Attorney?

An uncontested divorce is how a lot of men and women manage their divorce.  The truth is, no contest divorce can be quite straightforward and very economical, and provide you and your spouse how to finish your union in a serene and dignified way for the 2 individuals involved.  

Obviously, it wasn't the ideal move for everybody, but it may be the ideal option for many couples that need a fast divorce. In this era, divorce is a term that's become, sadly often heard frequently, or even daily in your life.  

A married couple who decide they can't live with each other for whatever reason on a lot of occasions believed that getting a divorce is the best thing to do. An uncontested divorce occurs when the couple decides that even though they don't need to wed, they also don't wish to enter a messy divorce. You can hire an uncontested divorce consultation in Ontario via online sources.

5 Important Questions You Should Ask Your Divorce Lawyer -

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After a couple decides to go through with all the uncontested divorce, they don't just spar themselves together with the very long struggle, drawn-out they will spend less money and less time to acquire the last divorce.

Hiring a divorce attorney is quite straightforward and simple.  A fantastic divorce attorney will sit down with your spouse and explain exactly how fast, easy, and easy on the pocket uncontested divorce may.

An uncontested divorce attorney will ordinarily have the ability to take care of the particulars of the divorce law company.  On account of how the couple isn't opposed to each item of material acquired through the marriage, will probably be in the front of the judges will likely be absent or one to two occasions.