Your Small Business Tax Accountant

Dawson Accounting & Business Solutions offers expert Australian business tax services in the Yarra Ranges and Melbourne. Our business services include tax planning, tax preparation, and compliance. Our experienced team ensures efficient and accurate tax obligation fulfillment for startups to corporations. Rely on us to optimise your tax position while you focus on business growth.

Your Business Tax Solutions

We understand the complexities of navigating business taxes. With tax laws constantly changing, managing your business taxes can be overwhelming and time-consuming. That’s where we are able to help.

Our Services

Business taxes can include GST, PAYGW, FBT, Income Tax and more. Our team of experienced tax professionals are dedicated to helping businesses like yours maximise your tax savings and ensure compliance with all regulations. From tax planning to tax preparation and filing, we handle it all so you can focus on growing your business. See our “Types of Business Taxes” section below more information.

Why Choose Us?

  • Expertise: Our team stays up-to-date on the latest tax laws and regulations to provide you with accurate and reliable tax services.

  • Personalised Approach: We understand that every business is unique, which is why we tailor our services to meet your specific needs and goals.

  • Save Time and Money: By outsourcing your tax needs to us, you can save valuable time and money while ensuring that your taxes are done right the first time. The cost of ATO audits can far outweigh the cost of a professional business accountant. Our tax services help your business stay in the “green zone”.

Get in Touch

Don't let the stress of business taxes hold you back. Let Dawson Accounting & Business Solutions be your trusted partner in all things tax-related. Contact us today to learn more about how our business tax services can benefit your business.

In Australia, business taxes play a crucial role in the economy, impacting businesses of all sizes across various industries and can be difficult for business owners to grasp. The Australian Taxation Office (ATO) governs the tax system, which includes corporate income tax, Goods and Services Tax (GST), Pay-As-You-Go (PAYG) withholding, and Fringe Benefits Tax (FBT). Understanding and complying with these tax requirements are essential for businesses to avoid penalties and maintain financial health. Seeking professional advice from accountants or tax consultants can help businesses navigate the complexities of the Australian tax system and ensure compliance with the relevant laws and regulations.

Types of Business Taxes

  • The income tax amount for your business is based on how much money you make that is taxable. This is calculated from the income your business brings in, minus any allowed deductions.

    Your business income includes all the money it makes, including sales and other types of earnings. It does not cover GST you owe on sales or GST credits.

    Deductions are expenses related to operating your business that you can subtract.

    You need to submit an income tax return each year you are in business, even if you do not anticipate owing taxes.

  • In Australia, the Goods and Services Tax (GST) is a value-added tax of 10% on most goods, services, and items sold or consumed in the country. Introduced on July 1, 2000, the GST is designed to be a consumption tax that is ultimately borne by the end consumer. Businesses registered for GST must collect the tax on taxable sales and remit it to the Australian Taxation Office (ATO).

    You must register your business for GST if:

    • your business turnover reaches $75,000 or more

    • your non-profit organisation turnover reaches $150,000 or more

    • you provide taxi or limousine services (including ride-sourcing services like Uber)

    • you want to claim fuel tax credits for your business

  • In Australia, PAYGW (Pay As You Go Withholding) is a tax system where employers deduct money from employees' wages and send it to the ATO. This system helps individuals pay their taxes gradually. Employers calculate the deduction based on employee income, hours worked, and deductions. It's important for businesses to follow PAYGW rules to avoid penalties. Knowing and using PAYGW correctly is vital for meeting tax obligations in Australia.

  • When your business and investment earnings hit a threshold, you will need pay taxes in smaller instalments, typically every quarter. PAYG instalments prevent a hefty tax bill when you file your tax return.

  • Fringe Benefits Tax (FBT) in Australia is a tax applied to certain benefits employers provide to their employees in place of salary or wages. The FBT is separate from income tax and is calculated based on the taxable value of the fringe benefits provided. Employers are required to lodge an annual FBT return to report the total taxable value of fringe benefits and pay the FBT to the Australian Taxation Office. Common examples of fringe benefits include company cars, health insurance, and low-interest loans. Understanding and correctly managing FBT obligations is crucial for businesses to ensure compliance with Australian tax laws.

  • Capital Gains Tax (CGT) is a tax on the profit when you sell or dispose of an asset that has increased in value. In the context of business, CGT applies to assets such as shares, property, or goodwill. When a business sells a capital asset for more than its purchase price, the difference is considered a capital gain and is subject to CGT. However, businesses can also claim deductions or exemptions on certain capital gains, depending on various factors like the type of asset, the holding period, and any applicable reliefs. Understanding the implications of CGT is essential for businesses to effectively manage their tax obligations and financial planning strategies.