In addition to Income Tax and GST, there are also a range of other taxes that we can help you with.
Some of the common types of other taxes that we can help you with are:
Fringe Benefits Tax
A Fringe Benefit is a benefit provided to an employee (or their associate) because that person is an employee. Benefits can be provided by an employer, an associate of the employer, or by a third party under an arrangement with the employer. An employee can be a current, future or former employee.
Fringe Benefits Tax (FBT) is a tax paid on these benefits that employers provide in place of salary or wages. FBT is separate from income tax and is based on the taxable value of the various fringe benefits provided. The FBT year runs from 1 April to 31 March.
Various categories of fringe benefits apply, and specific valuation properties apply to each category.
Payroll tax is a State tax on the wages paid by employers. When the total wages exemption threshold is exceeded, employers are liable for payroll tax. Exemption thresholds vary between States.
Payroll tax is not the same as PAYG withholding tax, collected by the Australian Tax Office. PAYG is the tax deducted from an individual’s income and forwarded to the ATO. Payroll tax is payable to the State by an employer, based on the total wages paid to all employees.
Land tax is imposed throughout Australia except in the Northern Territory. It is a tax levied on landowners, except in the ACT where it is levied on lessees under a Crown lease. Land tax is generally required when the unimproved value of taxable land exceeds certain thresholds.
For more information on how we can help you, please contact us for an appointment.