The Australian business number (ABN) was introduced on 1 July 200 and is operated by the Australian Tax Office. The ABN is a a unique 11 digit Australian Business number identifier. which is issued by the Australian Business Register. There is…

The first home super saver (FHSS) scheme was introduced by the Australian Government in the Federal Budget 2017–18 to reduce pressure on housing affordability. From 1 July 2017, you can make voluntary concessional (before-tax) and voluntary non-concessional (after-tax) contributions into your…

Goods and services tax (GST) is a tax of 10% on most goods, services, and other items sold or consumed in Australia. The general principle is that only the end consumer bears the economic cost of GST. Registered entities bear…

The Medicare levy is levied in the same way as income tax is levied. In most cases, the amount withheld from your salary or wages to satisfy the Medicare levy is included in the pay as you go amount. When…

Fringe Benefits Tax (FBT) is paid differently than a salary or wage. It is paid to an employee who may be current, future or past, a director of a company and a beneficiary of a trust who is employed by…

The Australian Taxation Office (ATO) provides a range of  tax calculators, rates and other tools on various tops such as:  For more information visit the ATO website Calculators & Tools  Income Tax Medicare Levy Fringe Benefits Tax Fuel tax credits Goods…

Business Activity Statement- BAS If you are a business registered for GST you need to lodge a business activity statement (BAS). The Australian Taxation Office (ATO) web site provides instructions on lodging and paying activity statements. Your BAS will help you…